Business / Real Estate / Mortgage Insurance Premiums (MIP): Most FHA loans require the borrower to pay two mortgage insurance premiums: one upfront paid at closing, the second is an annual premium based on the loan balance each year.
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Insurance Verb Synonyms: assurance, surety, indemnity, indemnification, guarantee or guaranty, warranty, bond, security, protection, cover
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Business / Real Estate / Mortgage-Backed Security (MBS): A security guaranteed by pools of mortgages and used to channel funds from securities markets to housing markets. Ginnie Mae has a popular MBS program recognized for its low risk and high yield. The G MORE
Business / Real Estate / Mortgagees Title Insurance: An insurance policy protecting the lender for the amount of the loan in the event of a future title dispute. MORE
Business / Finance / Multiple Peril Insurance: Insurance policy that covers a wide variety of property damage. MORE
Business / Real Estate / Multiclass Mortgage Securities: Short- and long-term mortgage securities, with or without pass-through privileges. MORE