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• insurance that protects lenders against losses caused by a rhomeowner's default on a mortgage loan. MI typically is required if the homeowner's down payment is less than 20% of the purchase price.

  Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program - Cite This Source - This Definition
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  Cite Definition for Mortgage Insurance (MI)

  American Psychological Association (APA)

  Mortgage Insurance (MI). (n.d.). Making Home Affordable Glossary. Retrieved April 1, 2023, from website: http://www.expertglossary.com/definition/mortgage-insurance-mi.

  Chicago Manual of Style (CMS)

  Mortgage Insurance (MI). www.makinghomeaffordable.gov. Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. http://www.expertglossary.com/definition/mortgage-insurance-mi (accessed: April 1, 2023).

  Modern Language Association (MLA)

  "Mortgage Insurance (MI)." Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. 1 April. 2023 http://www.expertglossary.com/definition/mortgage-insurance-mi.

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