It has been said that mortgages with PMI insurance are generally prime loans. Although I doubt the validity of that assessment, the number of borrowers with PMI attached to their loans, and in some form of defualt, continues to rise. Borrowers who opted to carry Private Mortgage Insurance (PMI) on their homes set [...]
Mortgage Insurance
Posted on November 06th, 2007 in Archives, Economic Impact, Editorial, Government Positions, Investors, Job Losses, Lenders, Mortgage Insurance, Opinion, Root Causes
President Clinton repealed the Glass-Steagall Act which had prevented the coupling of investment banking and lending. Following President Clinton, George W. Bush proved to be very pro-business, but at a high cost to the average consumer. Intelligent Americans realized consumer spending and risky lending practices would come with a very high price. [...]
In all phases of the mortgage industry this week your hear the mortgage blues, from the people who make the loans to the people who insure them, the news was bad — and most of them expect it to get worse. Title insurers say they could not cut costs fast enough in August and [...]
