mortgage insurance

mortgage insurance definition - business

mortgage insurance

Insurance coverage to protect the mortgage lender in the event the borrower defaults. Borrowers pay mortgage insurance premiums even though the insurance protects the lenders. See also private mortgage insurance.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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