Private Mortgage Insurance

Private mortgage Insurance (PMI) is not a form of Life Insurance. It is insurance that protects your lender

in the event the borrower defaults on the mortgage payment. PMI is generally required by the lender if the

initial mortgage will exceeds 80% of the value of the property.

In addition to PMI, Lenders Often provide access to some form of Mortgage Insurance protection to their mortgage customers

that does provide a death benefit that may be used by the beneficiary to pay off an outstanding mortgage balance.

Some offer accident only mortgage insurance, some offer a Group Mortgage Term Policy, and some may offer

individual Term insurance available through Insurance Companies specializing in this type of insurance.

Regardless of the type of death benefit provided, it is advisable to be sure the primary beneficiary is someone other than the mortgage company.

Making the mortgage company the primary beneficiary limits the options of your surviving spouse and children.

In addition, if the mortgage is paid off through refinance with another mortgage company, the mortgage life insurance policy

will usually be cancelled. The new mortgage is then left unprotected unless a new mortgage life insurance policy is purchased.

A new policy will likely be at a higher premium because the insured borrower will be older than when the original policy was purchased.

Also, a change in health condition may now prevent a new policy from being issued. Custom No Medical Exam Mortgage Insurance Quote

The Following is a partial list of lenders that provide their borrowers with the added (optional) convenience

of protecting their mortgage with a mortgage insurance death benefit through life insurance companies specializing

in mortgage protection with term life insurance.

This list is provided for information purposes only.

To find out if your lender, or a lender listed here still offers this protection, contact the lender directly.

* The Insurance company or companies underwriting the Mortgage protection Term Life insurance are not affiliated with the Lenders.

ABN AMRO Financial services, Inc. Alliance Mortgage Commercial federal Bank FSB American Bantrust

Bank Of America - Buffalo, N.Y. Bank Of America - Louisville, KY Bank Atlantic Servicing

Bank Of Oklahoma Mortgage California Mortgage Savings Calumet Securities Corp. Charter Bank for Savings

Chase Manhattan - Florida Chase Manhattan - Ohio Citimortgage, Inc. Colonial Savings & Loan

Ft Worth Mortgage (Outside Texas Only) Countrywide Agency, Inc. Covenant Mortgage Corp.

Delmar Financial Company Dovenmuehle Mtg., Inc. El Dorado Savings & Loan Association Fidelity Savings

First Horizon First Nationwide Mortgage First Union Flagstar Bank GE Capital Insurance Services - CA

General Mortgage Corp. GMAC Mortgage Hibernia National Bank Homeamerican Home Eq servicing Corp.

Homeside Lending Indy Mac Bank Interstate Mortgage Co. Lake Mortgage Co. Leaders mortgage

Matrix Financial Services Meritech Mortgage Services Mercury Mortgage Midland Mortgage Co., OK City

Mitchell Mortgage Co., LLC Nationwide Advantage Mortgage Co. North American Mortgage Co. Ocwen Federal

Option One Pulaski Bank - A Savings Bank Pulaski Mortgage Corporation Raymond Federal

Regal Mortgage Corp. Regional Investment Company Regions Mortgage Co. Saxon Mortgage

Standard Mortgage RBC Mortgage Sterling Savings Bank St. Paul Federal Bank for Savings

Trustcorp. Mortgage Company Union Planters Corp. Universal Mortgage Corp. United Bilt Homes Inc.

Washington Federal Savings Washington Mutual Home Loans Washington Mutual - Illinois (formerly PNC)

Washington Mutual - CA Waterfield Mortgage Company Wells Fargo Wendover Financial

This list is provided for information purposes only.

To find out if your lender, or a lender listed here still offers this protection, contact the lender directly.

* The Insurance company or companies underwriting the Mortgage protection Term Life insurance are not affiliated with the Lenders.