Sentences with phrase «protected if a borrower defaults»

The lender is protected if a borrower defaults on the loan, and the borrower is protected if the lender goes out of business or the loan balance exceeds the value of the home.

A legally binding Loan Agreement not only maps out the terms of the loan, but it also protects you if the borrower defaults on the loan.

The lender is protected if a borrower defaults on the loan, and the borrower is protected if the lender goes out of business or the loan balance exceeds the value of the home.

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

Not exact matches

Private mortgage insurance (PMI) is a special type of insurance policy that is paid by the borrower and protects lenders against loss if a borrower defaults.

Private Mortgage Insurance (PMI) is a special type of insurance policy, provided by private insurers, to protect a lender against loss if a borrower defaults.

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

Making a so - called «qualified mortgage» (QM), which can't have riskier features like interest - only payments or balloon payments, protects a mortgage lender from liability if it sells the loan to investors and then the borrower defaults.

If lenders sell non-QM loans, and the borrowers default, lenders are less protected from lawsuits and «buybacks,» having to refund the investors» money.

Private Mortgage Insurance (PMI) Mortgage insurance provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults.

Private Mortgage Insurance (PMI) is a part of the loan payment and protects the lender if a borrower defaults on a home loan.

Forbes contributor Mark Greene explained if lenders follow this «ability - to - repay rule» and demonstrate they did everything they could to determine a borrower was reliable, they won't have to buy back the loan even if the borrower defaults.1 The more proof a lender has that he or she did everything possible to make sure the borrower was in good financial standing, the more protected that lender will be.

They are protected from default if either the borrower or a future owner fails to repay the loan.

Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if the borrower defaults on the loan.

Borrowers who use an FHA mortgage must pay for mortgage insurance as this protects the lender if you default.

While the borrower pays the premium — which can add thousands of dollars to the cost of buying a home — the insurance actually protects the lender if the borrower defaults on the loan.

A portion of each loan is guaranteed by the VA to protect the lender's investment if the borrower defaults.

The insurance protects the lender (not the borrower) if a borrower defaults on the loan.

FHA mortgage insurance protects the lender (not the borrower) if a borrower defaults on the FHA loan.

If your current home is sold conditionally on financing, banks are having appraisers undervalue homes to protect themselves from the risk borrowers default in a rising interest rate environment.

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.

(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.

Private Mortgage Insurance (PMI) Mortgage insurance provided by a private mortgage insurance company to protect lenders against loss if a borrower defaults.