Sentences with phrase «default on a policy loan»

There are no penalties for not making payments on time and you can not default on a policy loan.

Not exact matches

Mortgage insurance refers to any insurance policy that protects lenders against the risk of a borrower defaulting on a mortgage loan.

It's an insurance policy your lender will take out to cover a portion of the amount you borrow in case you ever default on your loan.

FHA MIP, or mortgage insurance premium, is a type of insurance policy that protects lenders if an FHA loan holder defaults on his or her mortgage.

Private Mortgage Insurance is a special type of insurance policy, provided by private insurers, to protect the lender if you default on your loan.

Such reforms included the Bank on Students Emergency Loan Refinancing Act as well as default prevention policy.

FHA MIP, or mortgage insurance premium, is a type of insurance policy that protects lenders if an FHA loan holder defaults on his or her mortgage.

Mortgage insurance refers to any insurance policy that protects lenders against the risk of a borrower defaulting on a mortgage loan.

Mortgage insurance — An insurance policy paid for by either the borrower (PMI) or lender (LPMI) that protects the invested party in the event that the borrower defaults on the loan.

Credit derivatives can be viewed against insurance policies against a default on a loan or a bond.

The insurance policy you are required to obtain and pay for as part of your monthly mortgage payment essentially provides protection to the lender in case you default on the loan, and covers the lender for the amount between 20 % down and what you actually put down.

Home sellers doing a short sale should do the extra research on the owner and insurer of their loan and look into their policies on «imminent danger of default» vs. true default and real estate professionals should be wary of giving advice on these matters and would do best to carefully and concisely relay communication (with a paper trail) from other parties to the transaction rather than make suggestions.

The death of the borrower in that case is so tragic, and indeed so unlikely, that perhaps it would make sense to bake into these loans a term life insurance policy that would leave the cosigner on the hook only for more typical forms of default.

Fortunately, the Consumer Financial Protection Bureau pushed lenders to change their policies on new and existing loans so that co-signer deaths no longer trigger such defaults.

Richard Hunt, director of the Consumer Bankers Association recently sent a letter to CFPB director Richard Cordray stating that 10 banks offering student loans have committed to changing their policy on automatic defaults.

These recently released data, as well as other, more comprehensive data on default and loan repayment, can assist policy efforts to lower persistently high default rates.

Knowing more about the different ways in which loans are paid off would have policy implications and affect whether the tools currently used to collect on defaulted student loans are judged as the right ones.

PMI is a specialized insurance policy provided by private insurance companies that protects a lender from financial loss if a borrower defaulted on their loan.

Check with your loan or lease provider before making any changes to your auto insurance policy to avoid defaulting on your contract.

Therefore, lenders require that applicants purchase an insurance policy that protects the lenders» interests in case the homeowners default on their loans.

(Private Mortgage Insurance) PMI is a specialized insurance policy provided by private insurance companies that protects a lender from financial loss if a borrower defaulted on their loan.

This is especially common in the case of whole life insurance policies, where technically it is a requirement to pay the premium every year (unless the policy was truly a limited - pay policy that is fully paid up), and if the policyowner stops paying premiums the policy will remain in force, but only because the insurance company by default takes out a loan on behalf of the policyowner to pay the premium (which goes right back into the policy, but now the loan begins to accrue loan interest).

Any default in loan repayment can have a huge impact on the policy benefits.

Specified cash value on a permanent life insurance policy lets the lender access those funds as a loan repayment if the borrower defaults.

Key Results and Accomplishments • Attained 100 % accounts reconciliation rate within 6 months of initial hiring • Reduced account opening time by 40 minutes on average by utilizing an online customer database for initial form filling and application processing • Reduced loan default rate by 30 % through enactment of effective risk mitigation policies • Enhanced operational efficiency by 27 % through implementation of semi-automated cash balancing and transaction processing protocols

FHA MIP, or mortgage insurance premium, is a type of insurance policy that protects lenders if an FHA loan holder defaults on his or her mortgage.

Private mortgage insurance (PMI) is an actual insurance policy that the lender takes out to protect themselves if the borrower defaults on the loan.