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FHFA proposal could end up costing borrowers -- report

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Mortgage Professional America | 27 Aug 2014, 12:05 PM Agree 0
Proposed new requirements for private mortgage insurers could jack up mortgage costs for thousands of homeowners, according to a new report
  • The Mortgage Hunter | | 27 Aug 2014, 03:39 PM Agree 0
    "The FHFA’s new regulations would require that private insurers have the ability to pay claims if mortgages go bad."
    And right now, the MI companies do NOT have the ability to pay claims if mortgages go bad? Am I missing something here? Seems like this is actually good regulation from the regulatory goons.
    I love paying a company for a service each month that the company cannot deliver when I need it... sign me up for some PMI!
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