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Exactly what are the terms and conditions for a lender to file a claim with the PMI company?

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sherifffriend Joined: 12 May 2010 Posts: 1 1.00 Dollars($)	Posted: Wed May 12, 2010 10:28 pm    Post subject: Exactly what are the terms and conditions for a lender to fi Like 0 Dislike 0 PMI is the only insurance coverage that I know where the payer of premiums for coverage is not entitled to receive a copy of the terms and conditions covered by the premium paid. How is it that in some states (Florida) that a deficiency judgment can be placed by lenders that agree to a short sale on a loan that has PMI?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu May 13, 2010 10:00 pm    Post subject: Like 0 Dislike 0 Hi sherifffriend! Welcome to forums! In case of a short sale, the lender has the rights to come after you for the deficient balance resulting from the sale. The lender the rights to file for a deficiency judgment. Once he receives the judgment, he may contact the PMI company and recover his dues. Feel free to ask if you've further queries. Sussane

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