People will begin buying homes again if the federal government protects their down payment from risk of loss, according to University of California economist, James A. Wilcox. Wilcox claims that there is a vast nationwide demand for so-called “buyer’s side mortgage insurance” among potential homebuyers who refuse to pull the trigger out of fear that [...]
This article exposes the inclusion of default insurance premiums and impounds as part of the total monthly payment on an FHA-insured loan, and their effect on the amount the homebuyer is qualified to borrow. Similarly discussed are the costs of private mortgage insurance (PMI).
The private mortgage insurance industry (PMI) is no longer boycotting California. Some of the largest private insurers in the nation, including PMI, Genworth and MGIC, have returned to the California market after abandoning the state following the housing bubble implosion. PMI has lowered the requirements for conforming loan amounts in California to the following criteria: [...]
Subscribe to get first tuesday's weekly and monthly articles delivered right to your inbox!
Entries
