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  • Can PMI be taken out by Mortgage company?

    If you close on your loan and have no listing of PMI or disclosure in your mortgage paperwork, can a mortgage company take out thier own insurance against you and your property without your knowledge?

    If so and a default on the loan takes place, the PMI pays the mortgage company then the borrower is now stuck with that debt they did not originally agree to?

    3 AnswersInsurance1 decade ago