private mortgage insurance: What Insurance Protections Might be Needed During Mortgage Financing? - 12/30/19 09:03 AM
 What Insurance Protections Might Be Needed During Mortgage Financing?  The buying and financing of a home can seem like a pretty detailed and confusing process at times.  As a result, it's vitally important that new buyers and those refinancing thoroughly understand the process they're entering and being asked to navigate prior to making decisions. As a Mortgage Lender, I've found that some of my clients are confused regarding different forms of insurance that they may be required to secure and hold while obtaining their financing.  
The following is the information I share with my clients in  Chicagoland - IL/WI to assist them with their mortgage and insurance … (14 comments)

private mortgage insurance: Reduced Costs Seen for Private Mortgage Insurance - 08/14/18 01:43 PM
 
 
Reduced Costs Seen for Private Mortgage Insurance
 
In a period of rising mortgage interest rates, some good news has recently arrived from the Private Mortgage Insurance (PMI) industry ...
 
Most of the predominant PMI companies have reduced rates charged to borrowers that finance a home and have less than 20% to place as a down payment.
 
As the entire mortgage/lending industry seems to be adopting a "specific risk-based pricing", mortgage insurance companies are taking that approach as well.  In addition to "reduced rates/lower premiums", mortgage insurance companies have tracked and now built-in adjustments for specific variables on a case-by-case basis.
 
Statistics show that two-borrower loans perform better than one.  As … (20 comments)

private mortgage insurance: No Need to Fear the Topic of Private Mortgage Insurance if you Know the Facts - 11/14/17 02:02 PM
 
 
No Need to Fear the Topic of Private Mortgage Insurance
if you Know the Facts
 
If you've done much research regarding mortgage financing, you've probably heard the term "Private Mortgage Insurance" ...
 
You may have also heard that Private Mortgage Insurance is scary or should be avoided.  But in reality, in the right situations ... it can be the solution to your home buying and financing challenges.
 
What do I mean?
 
Let me start by explaining what Private Mortgage Insurance is ...
 
Private Mortgage Insurance, often referred to as PMI, is insurance provided by a private mortgage insurance company.  The insurance protects Lenders against loss (to an 80% Loan Limit) if a … (5 comments)

private mortgage insurance: Winds of Change are Blowing Again Regarding Mortgage Insurance - 07/05/12 05:05 AM
 
 
Winds of Change are Blowing Again Regarding Mortgage Insurance                               Winds of change are constantly blowing through the Real Estate Financing business ...               At least the latest, and new notice regarding the costs of mortgage insurance  is "at our backs" instead of a head-wind.         We all know that  FHA  has been forced to bump-up the cost of mortgage insurance recently.  As a result, we've seen a surge of 95%  Loan-to-Value  (5% Down Payment)  Conventional Financing  deals come our way.         Now we are hearing that … (18 comments)

private mortgage insurance: Announcing the "Comeback Kid" ... PMI! (Private Mortgage Insurance) - 01/02/12 04:24 AM
Announcing the "Comeback Kid" ... PMI! (Private Mortgage Insurance)               In the good news department, it appears that the private mortgage insurance companies may be loosening up their guidelines and appear to be regaining a lost share of business that FHA has been enjoying.         Coupled with the higher monthly mortgage insurance costs associated with FHA loans now, and the "availability" of privately issued mortgage insurance, more Conventional loan scenarios are taking hold.         Of those options at 5% down, single premium (paid upfront at closing) is emerging from the pack. With the single premium … (20 comments)

 
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) Rainmaker large

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience

New Lenox, IL

More about me…

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656

Address: Gene Mundt, Mortgage Originator c/o American Portfolio Mortgage Corp., 318 Alana Drive, New Lenox, IL, 60451

Mobile: (708) 921-6331

Office: (815) 524-2280

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