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Mortgage Insurance
Mortgage insurance (also known as mortgage guarantee and home-loan insurance) is an insurance policy which compensates lenders or investors in mortgage-backed securities for losses due to the default of a mortgage loan. Mortgage insurance can be either public or private depending upon the insurer. The policy is also known as a mortgage indemnity guarantee (MIG), particularly in the UK. Australia In Australia, borrowers must pay Lenders Mortgage Insurance (LMI) for home loans over 80% of the purchase price. Singapore In Singapore, it is mandatory for owners of HDB flats to have a mortgage insurance if they are using the balance in their Central Provident Fund (CPF) accounts to pay for the monthly installment on their mortgage. However, they have the choice of selecting a mortgage insurance administered by the CPF Board or stipulated private insurers. On the other hand, it is not mandatory for owners of private homes in Singapore to take a mortgage insurance. United States ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Housing Administration
The Federal Housing Administration (FHA), also known as the Office of Housing within the Department of Housing and Urban Development (HUD), is a Independent agencies of the United States government, United States government agency founded by President Franklin D. Roosevelt, Franklin Delano Roosevelt, established in part by the National Housing Act of 1934. Its primary function is to provide Mortgage insurance, insurance for mortgages originated by private lenders for various types of properties, including single-family homes, multifamily rental properties, hospitals, and residential care facilities. FHA mortgage insurance serves to safeguard these private lenders from financial losses. In the event that a property owner Default (finance), defaults on their mortgage, FHA steps in to compensate the lender for the outstanding principal balance. Under this insurance arrangement, lenders assume a diminished level of risk, thereby allowing them to offer a larger number of mortgages. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Policy
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claim (legal), claims which the insurer is law, legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language. Insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Since insurance policies are standard forms, they feature boilerplate (text), boilerplate language which is similar across a wide variety of different types of insurance policies. Available through HeinOnline. The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer.Wollner KS. (1999). How to Draft and Interpret Insurance Policies. Casualty Risk Publishing LLC. In some cases, however, supplementary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories. Mission and function Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. The NAIC is an Internal Revenue Code Section 501(c)(3) non-profit organization. The NAIC acts as a forum for the creation of model laws and regulations. Each state decides whether to pass each NAIC model law or regulation, and each state may make changes in the enactment process, but the models are widely, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FHA Insured Loan
An FHA insured loan is a government-backed mortgage option designed to help a broader range of Americans—particularly first-time homebuyers—achieve homeownership with more flexible credit, income, and down payment requirements than conventional loans. Offered through FHA-approved lenders and insured by the Federal Housing Administration, these loans are widely used today as a practical and accessible solution for individuals who may not qualify for traditional financing due to limited savings or credit history. FHA loans can be used to purchase, refinance, or renovate a primary residence, and are especially valuable for buyers seeking affordability and stability in their home financing. The program was established in the 1930s during the Great Depression, a time when the housing market was paralyzed by widespread foreclosures and tightening credit. The federal government created the FHA to restore confidence in the housing sector by insuring mortgages, thus reducing risk for l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Mortgage And Housing Corporation
Canada Mortgage and Housing Corporation (CMHC; , SCHL) is Canada's federal crown corporation responsible for administering the ''National Housing Act'', with the mandate to improve housing and living conditions in the country.McAfee, Ann. 2013 December 16.Canada Mortgage and Housing Corporation" ''The Canadian Encyclopedia''. Historica Canada. Retrieved 1 April 2023. Originally established after World War II to help returning war veterans find housing, it has since seen its mandate expand to the mandate of improving access to housing overall. Overview The CMHC operates with a primary mandate of providing mortgage liquidity, assisting in establishing affordable housing development, and providing arms-length advice to the Government of Canada and the housing industry. The crown corporation acts as Canada's national housing agency. As such, it administers federal housing programs such as the first-time home buyer loan, acts as a mortgage insurer (primarily for high-leverage l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lenders Mortgage Insurance
Lenders mortgage insurance (LMI), also known as private mortgage insurance (PMI) in the US, is a type of insurance payable to a lender or to a trustee for a pool of securities that may be required when taking out a mortgage loan. Its purpose is to offset losses in the case where a mortgagor is not able to repay the loan and the lender is not able to recover its costs after foreclosure and sale of the mortgaged property. Mortgage insurance in the US The annual cost of PMI varies and is expressed in terms of the total loan value in most cases, depending on the loan term, loan type, proportion of the total home value that is financed, the coverage amount, and the frequency of premium payments (monthly, annual, or single). The PMI may be payable up front, or it may be capitalized onto the loan in the case of single premium product. This type of insurance is usually only required if the downpayment is 20% or less of the sales price or appraised value (in other words, if the loan-to-v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Payment Protection Insurance
Payment protection insurance (PPI), also known as credit insurance, credit protection insurance, or loan repayment insurance, is an insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill, disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt. It is not to be confused with income protection insurance, which is not specific to a debt but covers any income. PPI was widely sold by banks and other credit providers as an add-on to the loan or overdraft product. PPI usually covers payments for a finite period, typically 12 months, in which case they might be marketed as ''short-term income protection insurance'' (''STIP'') policies. For loans or mortgages the benefit amount may be the entire monthly payment, but for credit cards it is typically the minimum monthly payment. After the end of the period the borrower must find other means to repay the debt, although some policies re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
RIS Media
RIS may refer to: * Radio Information Service, a reading service for the blind in Pennsylvania, US * Radiological information system, for the electronic management of information related to medical imaging * Radiologically isolated syndrome, suggesting multiple sclerosis * Rail Integration System, for attaching accessories on firearms * Microsoft Remote Installation Services, booting computers via PXE * Reparto Informazioni e Sicurezza, a military intelligence agency of Italy, see SIOS * Republik Indonesia Serikat (Republic of the United States of Indonesia) * RIS Info, later RDS Info, Canadian sports broadcaster * Reverse Image Search * Reviving the Islamic Spirit, an Islamic conference in Canada * Riverside Indian School * RIS (file format), for citation programs * RIS Delitti Imperfetti, an Italian TV series * R. I. S. – Die Sprache der Toten, a German TV series * R.I.S, police scientifique, a French TV series * Rishiri Airport, Japan, IATA airport code * Rishton r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Guaranty
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film * ''The United'' (film), an unreleased Arabic-language film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe * "United (Who We Are)", a song by XO-IQ, featured in the television ser ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Times
''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of the longest-running newspapers in the United States, the ''Times'' serves as one of the country's Newspaper of record, newspapers of record. , ''The New York Times'' had 9.13 million total and 8.83 million online subscribers, both by significant margins the List of newspapers in the United States, highest numbers for any newspaper in the United States; the total also included 296,330 print subscribers, making the ''Times'' the second-largest newspaper by print circulation in the United States, following ''The Wall Street Journal'', also based in New York City. ''The New York Times'' is published by the New York Times Company; since 1896, the company has been chaired by the Ochs-Sulzberger family, whose current chairman and the paper's publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eliot Spitzer
Eliot Laurence Spitzer (born June 10, 1959) is an American politician and attorney who served as the 54th governor of New York from 2007 until his resignation in 2008 after a prostitution scandal. A member of the Democratic Party, he was also the 63rd attorney general of New York from 1999 to 2006. Born in the Bronx, Spitzer attended Princeton University and earned his Juris Doctor degree from Harvard Law School. He began his career as an attorney in private practice with New York law firms before becoming a prosecutor with the office of the New York County (Manhattan) District Attorney. Spitzer defeated Republican incumbent Dennis Vacco in 1998 to become state attorney general, earning a reputation as the "Sheriff of Wall Street" for his efforts to curb corruption in the financial services industry. He was elected governor of New York in 2006 by the largest margin of any candidate, but his tenure lasted less than two years after it was uncovered he patronized a prostitutio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
