PMI is a type of insurance that protects the lender, not the borrower, in case the homeowner defaults on a conventional loan.

If you bought your home using conventional financing, putting less than 20% down, you undoubtedly had to purchase private mortgage insurance or PMI.

A proposal to tie cancellation of private mortgage insurance policies to automated valuation models would add unnecessary risk to mortgage portfolios and would result in less, not more, affordable ...