BHMTom

Will the U.S. Mortgage Market Keep PMI Group Down?

John, anyone, help me understand. Is this PMI the same PMI, Principal morgage insurance, an individual would have been required to pay if they did not put down the 20% down payment on a home purchase?
I've always wondered where the PMI payments went, and wouldn't it insulate Morgage companies from losing out on a foreclosure.
If This PMI company is the ultimate one holding the bag for bad loans, why all the crisis talk.
You can not get a loan TODAY! and expect to get a 90,95, 100% morgage. PMI will not be getting any new customers since that segment of the population will no longer be able to purchase a home beyond thier means. A flush out and death of PMI group?
Looking for clairity
tcd60 at yahoo
Thanks!