Usually a remedy provided in a loan document for the lender to use in the event of default by the borrower. (americanbanker.com)
Primary Mortgage Insurance is essentially to protect the lenders against defaults by the borrower. (myfinancekits.com)
I came across your blog, and many of the home owners don't understand why a lender would not cooperate with refinancing, when the outcome is possible default by the borrower. (totalmortgage.com)