PMI Ups LTVs, Adds Mortgage Products to Insurance Plans
November 19th, 2009
“PMI Group (PMI: 2.1119 -6.96%) expanded its eligibility and underwriting guidelines for a number of loan products it insures, in many cases increasing maximum loan to value (LTV) thresholds. Condominium mortgages can now by insured in non-distressed markets to a maximum 95% LTV. Previously, the maximum LTV was 90%. This new limit does not apply to attached housing in Florida. In distressed markets, the LTV maximum is 90%, up from 85%”
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