Insured mortgage

A Mortgage that is protected by mortgage Insurance through the Federal Housing Administration or by private Mortgage insurance. If the borrower defaults on the Loan, the Insurer must pay the Lender the lesser of the loss incurred or the Insured amount.

Related Terms: 16 Borrow, Default, Fed, Federal Housing Administration, Insurance, Insured, Insurer, Inc., Lend, Lender, Loan, Mortgage, Owe, Private Mortgage Insurance, Ratio, VAT

Other Related Pages: Category: Real_Estate Starting With: I

Additional Related Terms: Asset/equity ratio, Accrual of discount, Amortization of premium, At par, All or any part, At best, At call, Adjustable life insurance, At risk, Add-on service