MLchartDataset catalogue

Private mortgage insurance

Term · Law · MLC-T-LAW-003913

An insurance policy that protects a mortgage lender against losses if a borrower defaults on a loan. Borrowers are generally required to purchase this insurance when their down payment is less than 20% of the home's purchase price. The cost of private mortgage insurance is added to the borrower's monthly mortgage payment.

Table 1. Record
IdentifierMLC-T-LAW-003913
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003913",
  "term": "Private mortgage insurance",
  "field": "Law",
  "definition": "An insurance policy that protects a mortgage lender against losses if a borrower defaults on a loan. Borrowers are generally required to purchase this insurance when their down payment is less than 20% of the home's purchase price. The cost of private mortgage insurance is added to the borrower's monthly mortgage payment.",
  "url": "https://mlchart.com/terminology/law/private-mortgage-insurance/"
}

Record 3,950 of 5,445 in Law terminology (MLC-0107). Request the full dataset.