Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

Learn how to update your mortgagee clause if your loan was transferred to Mr. Cooper and what to do with optional insurance products. Find answers to common questions about mortgagee clause, a term that refers to the lender's interest in your property... Note: The following Mortgagee...

If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. Lenders require PMI as protection against default. Homeowners with PMI often have a variety of options for paying the premiums.

Private Mortgage Insurance (PMI) PMI protects the lender against default. It’s generally required when the down pay... If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. Lenders require PMI as protection ag...

Learn how to do it and what to do with optional insurance products. If your loan was transferred to MrCooper, you need to notify your insurance company and update your mortgagee clause.... Note: The following Mortgagee Clause must appear on your insurance policy. If it’s not there, c...

Private Mortgage Insurance (PMI) For conventional loans, unless you have 20% equity in your home, a small portion of ... If you put down less than 20% on a conventional loan, you may need to carry private mortgage insurance, also known as PMI. Lenders require PMI as protection ...

Removing PMI If you’re required to carry PMI, we’ll cancel it automatically on the date your loan-to-value (LTV) ratio is scheduled to reach 78%. It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP).

Find answers to common questions about mortgagee clause, a term that refers to the lender's interest in your property. Learn how to update your mortgagee clause if your loan was transferred to Mr. Cooper and what to do with optional insurance products.

If you’re required to carry PMI, we’ll cancel it automatically on the date your loan-to-value (LTV) ratio is scheduled to reach 78%. It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP). What is mortgage insurance... page. Mortgage Insurance (also...

What do I do with an insurance claim check? If you receive an insurance claim check, visit www.insuranceclaimcheck.com to get information and next steps. What happens if you pay my taxes late? If, on the off chance, we pay the taxes late, we’ll cover any penalty and interest amount f...