[KarlInOhio]

It looks like this is for the much hated PMI (private mortgage insurance) which you had to pay if you had less than 20% down when you bought a house. A lot of the mortgage funny business was set up so that the bank could make that money instead of the insurance company, so you only had 80% on your first mortgage (thus avoiding PMI) but you had a second mortgage right away for 10%, 15% or even 20% of the house's value.

It's not the same as property insurance.

[Nathan Zachary]

Mortgage insurance is yet another scam people are FORCED to buy, yet get nothing from. Unless your one of those who makes a lot of claims till your premiums end up higher than your mortgage payments, LoL!

Anyways, risk is risk, so why can’t the risk begin and end with the mortgage company? If an un-insured house burns down, big deal. In the grands scheme of things, that doesn’t impact the mortgage issuer very much. I thought that “risk” was built in to the amount of interest you pay.

[SunkenCiv]

Let’s hope so!