The main objective of our proposal is to break the back of the financial crisis by sharply reducing mortgage foreclosures while liquefying a major part of the existing mortgage stock. A second purpose is to provide the foundation for a more stable housing finance system in the future. Proposal For Mortgage Payment Insurance Mortgage Payment Insurance (MPI): Our proposal is centered on a new type of mortgage insurance called Mortgage Payment Insurance (MPI).Under MPI, a private mortgage insurer (PMI) guarantees that investors will continue to receive scheduled payments of interest and principal on time following a borrower default. If the default is not corrected, payments from the insurer continue until the foreclosure process is completed. At that point the investor is reimburs...
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