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Who doesn't hate private mortgage insurance? For years lenders have charged PMI fees to borrowers who couldn't afford to put 20% down when purchasing their home, and why not? Private Mortgage Insurance or PMI makes complete sense from a lenders perspective. When they agree to lend money to borrowers with little or nothing down, they are assuming all the risk on a loan, and when a borrower doesn't put any of their own money into a transaction, that risk can be great. Enter Private Mortgage Insurance. Companies like Radian and Genworth Financial offer Private Mortgage Insurance Policies to banks that cover … (4 comments)
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