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 reimbursed for the unpaid balance plus foreclosure costs. MPI differs from traditional mortgage insurance (TMI) in protecting against cash-flow interruptions as well as losses from foreclosure. In contrast ...
by Inman | on Feb 14, 2017
by Ingrid Burke | 2 days
by Teke Wiggin | on Feb 15, 2017
by Gill South | 1 day
by Bernice Ross | 2 days