Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums Lending Compliance Residential 90% LTV without PMI
Thread Options
#501493 - 02/21/06 06:46 PM Residential 90% LTV without PMI
Bunco Offline
Junior Member
Joined: Jul 2005
Posts: 34
Any regulatory restrictions on making residential loans with an LTV of 90% or less without requiring PMI??

Return to Top
Lending Compliance
#501494 - 02/21/06 07:04 PM Re: Residential 90% LTV without PMI
P*Q Offline

Power Poster
P*Q
Joined: May 2001
Posts: 8,458
Somewhere
You may want to check state law.

Return to Top
#501495 - 02/21/06 08:10 PM Re: Residential 90% LTV without PMI
OldSchoolBanker Offline
Platinum Poster
Joined: May 2005
Posts: 662
FL
Loans that are >80% without MI are reportable on your quarterly Fed report and to your Board of Directors. The aggregate limit of these loans are limited to a percentage of capital. Check your regs to determine any limitations. If you are a thrift, read TB-72A.
_________________________
Old School Banker

Return to Top
#501496 - 02/21/06 11:24 PM Re: Residential 90% LTV without PMI
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,659
Florida
Many institutions are combining loan products to achieve a 90% loan to value without triggering the need for PMI. They will lend 80% conventional and another 10% in a consumer (purchase money mortgage junior lien) loan. Combined there is a 90% loan without the need for credit insurance.
_________________________
Integrity. With it, nothing else matters. Without it, nothing else matters.

Return to Top

Moderator:  Andy_Z