Lenders generally require private mortgage insurance (PMI) for conventional loans over 80 percent of the value of the security property.PMI protects a lender against which of the following?
A) Losses due to default on the loan
B) Legal threat to the lender's mortgage claim
C) Physical hazards
D) Changes in the index rate associated with an adjustable rate mortgage
Correct Answer:
Verified
Q4: The Federal Housing Administration (FHA) insures loans
Q5: With the arrival of subprime mortgages in
Q6: Mortgage originators can either hold loans in
Q6: Since mortgages typically have multiple costs associated
Q7: It would be hard to overstate the
Q8: Since conforming loans can be much more
Q13: Many older,retired households are considered "house poor."
Q14: Mortgage loans made to borrowers with normal
Q19: Mortgage originators often offer many types and
Q20: Federal Housing Administration (FHA) loans differ from
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents