Sentences with phrase «losses on your mortgage loan»

With the creation of the G.I. Bill that year, the VA Home Loan Guaranty program was established, which guaranteed lenders against loss on mortgage loans made to veterans.

This covers the bank's potential losses on your mortgage loan, and while it protects your home, your beneficiary receives nothing.

Foreclosure, property fix - up, and resale costs could result in a loss on the mortgage loan.

With the creation of the G.I. Bill that year, the VA Home Loan Guaranty program was established, which guaranteed lenders against loss on mortgage loans made to veterans.

Not exact matches

The firm's mortgage investment corporation has about 2,400 such loans in its portfolio, with an average size of $ 85,000, and says it maintained a $ 4.3 - million loan loss provision on a $ 214 - million portfolio last year.

At the same time, it is not out of the question that we may be quietly allowing U.S. banks to go insolvent without disclosure, covering the losses over time out of wide interest spreads on existing loans, and that we may be able to avoid outward evidence of mortgage deterioration simply by allowing the Treasury to go further and further into deficit on behalf of the GSEs.

For example, if a borrower defaults on their mortgage, Fannie and Freddie are responsible for the losses on the loans they guarantee to investors, while Ginnie Mae is financially responsible for the bond payments to the holders of Ginnie Mae securities.

NMIC's residential mortgage insurance products primarily provide first loss protection on loans originated by residential mortgage lenders and sold to the GSEs and on low down payment loans held by portfolio lenders.

Borrowers with FHA loans for mortgage insurance protecting the lender from loss in case borrowers default on the loan.

With the GSEs in conservatorship and the government effectively guaranteeing the loans assumed on the GSEs» balance sheets, taxpayers face direct exposure to mortgage credit losses experienced by the GSEs.

Mortgage insurance is the first level of credit protection against the risk of loss on a mortgage in the event a borrower is not able to repay the loan and there is not sufficient equity in the home to cover the amouMortgage insurance is the first level of credit protection against the risk of loss on a mortgage in the event a borrower is not able to repay the loan and there is not sufficient equity in the home to cover the amoumortgage in the event a borrower is not able to repay the loan and there is not sufficient equity in the home to cover the amount owed.

MI provides loan level protection against first losses on individual low down payment mortgage loans — and in doing so, promotes broad access to sustainable homeownership for credit worthy borrowers while enhancing stability and liquidity in the housing finance system.

It protects lenders like Jersey Mortgage Company against losses if a loan is defaulted on, while giving more people access to home ownership.

PMI is a mandatory insurance policy for conventional loans which insures a lender against loss in the event that the homeowner stops making payments on a mortgage loan.

With mortgage insurance, you'll also pay into a pool to help the lender cover losses and costs if a homeowner defaults on their loan.

If the borrower defaults on their loan and there isn't enough equity in the home to cover what is owed on the mortgage, private MI is there to offset the loss.

FHA is between a rock and a hard place as it struggles to recoup losses that have depleted the reserve fund used for paying mortgage insurance claims on defaulted FHA loans.

Although FHA does not directly make mortgage loans, it insures FHA approved lenders against losses on loans backed by FHA.

FHA, which insures mortgage lenders against losses on home mortgage loans, is tightening its lending requirements and changing down payment requirements for borrowers with credit scores below 580.

Riskier mortgages attract higher fees compared to bank loans because the lenders must cushion themselves from losses in the event you default on payments.

To start it should be mentioned that lenders and mortgage insurers hate short sales because they're being asked to take a loss on a loan.

Enforcing its lending requirements more rigorously helps FHA reduce the risk of mortgage foreclosures and prevents additional drain on FHA funds used for reimbursing lenders for losses connected with mortgage loan delinquencies.

In case you're wondering why FHA should care whether a mortgage lender forecloses on homeowners who can not make their mortgage payments, FHA insures mortgage lenders against losses associated with FHA loans.

Private mortgage insurance (PMI)-- Protects the lender against a loss if a borrower defaults on the loan.

Private mortgage insurance protects the lender against any loss in the event of default on the mortgage loan.

S&P estimated a loss severity of 35 percent on deals backed by mortgage loans with a negative amortization feature while assuming a loss severity of 35 percent for transactions secured by adjustable - rate loans and short - reset hybrid loans with fixed - rate periods of less than five years.

To make up this loss, your former mortgage lender files a claim with CMHC and, because there was mortgage loan insurance taken out on this loan, CMHC pays the bank the money owed.

Our Housing Counselors work with mortgage companies and servicers on loan modifications, short sales and deed - in - lieu of foreclosure agreements, to name a few of the different available loss mitigation options.

Although FHA doesn't directly lend money for mortgage loans, it guarantees its approved lenders against losses stemming from defaults on mortgages approved under FHA guidelines; its lending programs assist first time, credit challenged, and moderate income buyers.

If the homeowner defaults on the mortgage for any reason, the lender will be compensated for losses (as long as they have made the loan in accordance with HUD's guidelines).

Insurance that protects lenders against losses caused by a borrower's default on a mortgage loan.

Private lending institutions that offer mortgages use PMI to protect themselves from a loss in the event a borrower defaults on their loan.

Private mortgage insurance, also known as PMI, protects a mortgage lender (such as a bank or credit union) from a loss in the event you default on your mortgage loan.

Mortgage insurance is required if you have less than 20 % equity (or down payment) in your home and protects the mortgage lender from losses if a customer is unable to make loan payments and defaults on tMortgage insurance is required if you have less than 20 % equity (or down payment) in your home and protects the mortgage lender from losses if a customer is unable to make loan payments and defaults on tmortgage lender from losses if a customer is unable to make loan payments and defaults on the loan.

«My plea is for us to understand the value of mortgage insurance as a credit enhancement as [a way] for getting in front of the government in terms of first - loss position so that we can have a reasonable risk on a government guarantee loan but not an unreasonable guarantee for the government.»

Through insuring mortgage lenders against losses on home loans, the FHA assists with providing loans to borrowers who may not qualify for conventional mortgages.

Today, private capital in the form of mortgage insurance (MI) already provides significant risk protection against losses on low down payment loans.

You'll have more options (and get better terms) for a house with a high appraised value and a low mortgage balanceits a low - risk loan for a bank to recoup its loss in the event you default on the loan.

The Corporate and Eliminations segment includes net interest margin and gains or losses relating to mortgage loans for investment, real estate and residual interests in securitizations, along with interest expense on borrowings, other corporate expenses and eliminations of intercompany activities.

«Our tests have shown that many homeowners who are severely underwater on their mortgages will respond positively to a modification offer that includes reduction of their principal balance, increasing the rates of acceptance of HAMP trial modification offers, conversion to permanent modifications and long - term success of the homeowner,» said Jack Schakett, credit loss mitigation executive for Bank of America Home Loans.

When the prime rate of interest is higher on short term loans than on mortgage loans, the mortgage firm has an economic loss which is offset by charging a warehouse fee.

Insurance that protects the lender against loss caused by a borrower's default on a mortgage loan.

Private mortgage insurance is a policy that provides a lender with partial protection against a loss in the event a borrower fails to pay on a mortgage loan.

In this case, HUD would guarantee the Lender's loss on the loan because the Reverse Mortgage is a Federally Insured Program.

A policy that provides a lender with partial protection against a loss in the event a borrower fails to pay on a mortgage loan.

VA mortgages are granted by private lenders to borrowers, not through the government, although the government will ensure that these private lenders will not take a loss should the borrower default on the home loan they are given.

Note that FHA loans require mortgage insurance to protect lenders against losses that result from defaults on home mortgages.

Because of the losses that could occur, major investors require mortgage insurance on all loans made with low down payments.

Unfortunately for FHA, mortgage lenders, and conventional mortgage insurance companies that absorb losses on foreclosures, those who elect to walk away from their mortgages don't appear to care that their credit scores and ability to qualify for home loans can be seriously impacted.

If homeowners are delinquent on their first mortgage while keeping payments current on a home equity loan, the home equity lender has no incentive for taking a loss in favor of the first mortgage being modified or refinanced.