PMI companies write insurance policies to protect approximately the top 20% of the mortgage against default. This depends on the lender's and investor's requirements, the loan-to-value ratio, and the type of loan program involved. Should a default occur the lender will sell the property to liquidate the debt, and is reimbursed by the PMI company for any remaining amount up to the policy value.
"Helping customers afford the Home of their Dreams for almost two decades and we love what we do." - Keith Jacobson, President
Company NMLS: 163400 BRE # 01342072
5655 Lindero Canyon Road
Thousand Oaks, CA 91362-4030
Phone: (424) 325-6133