PMI Certificate

Document verifying Private Mortgage Insurance for loan transactions.

Last updated
December 2, 2024

The PMI Certificate serves as a formal document indicating the existence of Private Mortgage Insurance (PMI) associated with a specific loan. This insurance protects lenders in case the borrower defaults on their mortgage payments. The certificate contains various essential data fields pertinent for loan processing, underwriting, and record-keeping.

PMI is particularly important for borrowers who make a down payment of less than 20% on a home purchase, as it lessens the risk for lenders. By providing detailed information regarding the insured loan, including identification numbers, effective dates, and coverage amounts, the PMI Certificate plays a critical role in financial transactions within the real estate market.

Extractable Data Fields

Below is a table listing the key data fields that Vaultedge can extract from the PMI Certificate. Please refer to the table below for detailed information.

Yesdate1St Year RateYestextRenewal Rate Yrs 2 10YestextRenewal Rate Yrs 11-TermYestextDisbursement Amount(1st year Amount)YesamountRenewal 1 AmountYesamountRenewal 2 AmountYesamountCounty TaxYestextCounty Tax AmountYesamountMunicipality TaxYestextMunicipality Tax AmountYesamountState TaxYestextSurcharge RateYestextSurcharge Rate AmountYesamountThird Party OrginatedYestextInitial TotalYesamountFirst Premium RateYestextFirst Premium AmountYesamountFirst Month TotalYesamountTotal RateYestextBase RateYestextOrdered By NameYestextOrdered By AddressYestextCalculated Ltv or CltvYestextAmended DateYesdateState Tax AmountYesamount
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