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8.20 Private Mortgage Insurance
Mortgage insurance is required for all loans with an LTV in excess of 80%, based on the lower of the appraised value or sales price (see exception below for loans in the state of New York).
Clients must correctly reflect mortgage insurance...

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8.20.1 State of New York
Follow Agency guidelines.

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8.20.2 Borrower Paid Mortgage Insurance
Borrower-paid MI is permitted by PHH.

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-20-1-State-of-New-York > 8-20-2-Borrower-Paid-Mortgage-Insurance

8.20.3 Financed Mortgage Insurance
Financed MI is permitted by PHH.

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8.20.4 Lender Paid Mortgage Insurance
PHH will purchase loans with lender-paid MI. The LPMI certificate must reflect single premium only with no monthly payments and must be non-refundable.

Resources > FAQ > CHAPTER-8-FILE-DELIVERY > 8-20-1-State-of-New-York > 8-20-4-Lender-Paid-Mortgage-Insurance