NewsOK member benefits
Web Search powered by YAHOO!
Published: October 18, 2008
Troubled home loans didn’t require mortgage insurance
WASHINGTON — If the problem threatening to take down the economy is bad mortgages, then why isn’t mortgage insurance taking care of it?
In the 1980s and 1990s, most home buyers could not get a mortgage with a down payment less than 20 percent unless they bought private mortgage insurance, or PMI. This insurance covers the lender in case the borrower can’t pay. It wasn’t cheap (about $150 a mon...
You have selected to view an article that is older than 60 days. Get access to all our historical content by purchasing a pass to The Oklahoman. Select the option that works best for you.
Archive Subscription types & rates
