|Real Estate Glossary|
A contract that insures the lender against loss caused by a mortgagor's default on a government mortgage or conventional mortgage. Mortgage insurance can be issued by a private company or by a government agency such as the Federal Housing Administration (FHA). Depending on the type of mortgage insurance, the insurance may cover a percentage of or virtually all of the mortgage loan. .
[ Back To Real Estate Glossary ]
Real Estate Websites by iHOUSEweb, Inc. ®