mortgage guarantee insurance

mortgage-guarantee insurance. Insurance provided by the Mortgage Guarantee Insurance Company to mortgage lenders that grant mortgages to parties having less than a 20% down payment. • The cost of the insurance is included in the closing costs. [Cases: Mortgages 201. C.J.S. Mortgages §§ 311–314.]

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词条贡献者

译者张文，国际知名商学院金融专业，擅长翻译各种与结构性融资及衍生品诉讼相关的法律文件。