Pelican Parts Forums - So what the he&* happend to PMI?

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So what the he&* happend to PMI?

Private mortgage insurance = PMI

For all these doodleheads in exotic loans for houses that have defaulted. YOu can't tell me that all the defaulted loans had more than 20% and no PMI.

I know it's probably easier for the tax payers to pick up the cost - but what happened to PMI and why is that no mitigating some of these loses???

First we have the Iraq war and supposedly the oil we get from Iraq for saving their hides from Saddam was supposed to pay for the war and now PMI which is supposed to insure the bank if the mortgage defaults.

WTF??

Huh, funny you don't hear anything about that isn't it.

Doh - didn't see that - I guess we are on the same wavelength