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Article: Examining Home Equity Insurance's Pros, Cons.(Loan Choices)
- Article from:
- Origination News
- Article date:
- November 1, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amilda Dymi
Millions of homeowners "underwater" and hopeful improvements in home prices that indicate the worst of the housing crisis may be behind us have renewed efforts to create a viable insurance product that would protect homeowners from home-equity loss in the future, since what is gone is gone and another crisis as drastic may not return to make home-equity insurance practically impossible.
But if what a HE insurer has in mind is offering the product in better times, is it really doable? Could such a product turn into an additional borrower incentive from which originators can benefit? Would the country's major insurers venture to take on ...