Insurance for conventional mortgage loans that protects the lender from loss in the event of default by the borrower. See Mortgage Insurance
Default insurance on conventional loans provided by private insurance companies. See "mortgage insurance."
- Browse Related Terms: 203(b), Federal Housing Administration (FHA), FHA, Insured mortgage, Mortgage Insurance, Mortgage Insurance (MI), Mortgage insurance company, Mortgage Insurance Premium (MIP), PMI, Private mortgage insurance, Private Mortgage Insurance (PMI)