PMI Companies & Short Sales
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Tips, tricks, and experiences when you have a PMI company on a transaction.
Members: 138
Latest Activity: Feb 23, 2017
Dealing with PMI and Insurance Companies in Your Short Sales
Thought it would be good to add a new discussion for each PMI & Insurance company we run across with your experiences, questions, etc. Also include contact information.
Discussion Forum
Triad Guaranty Insurance Corporation-Phone-800.451.4872 Fax-336.723.1001
Started by Stephanie Lim. Last reply by Donna McClelland Aug 1, 2012. 14 Replies 0 Likes
flat out "NO" from MI
Started by Amanda Pittman. Last reply by joe beauchamp Jun 19, 2012. 1 Reply 0 Likes
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Comment by Teresa Lett on May 21, 2010 at 4:44am
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Kate that's a great question about deficiency judgements and PMI. I'm wondering that myself because I don't think it's ever been addressed in any training I've received so far. It's hard enough to committ to memory who and under what circumstances the INVESTOR can or can't pursue that remedy should they choose to do so. I know that VA, FHA and GSE backed loans do not, and now all those participating lenders operating voluntarily under HAFA cannot. Just don't know about the PMI people. Sure would like to get some perspective on that!
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Comment by Kate Gomes on April 8, 2010 at 7:06am
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I'm a little confused about PMI. Will they usually cover the banks losses in a short sale or just a % of the loan amt? Can they go after the seller for a deficiency judgement? If the property goes to foreclosure, what % of the loan amt. will they pay the bank? Thanks for any help! Here is a link to a list of the major PMI companies http://hubpages.com/hub/PMI I hope this helps somebody!
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