How can this be changed??

[Ryan Taylor]

So I was thinking....does PMI/MI seem a bit ridiculous...I'm mean...tacking on an additional 300/350 bucks a month to do nothing but protect a lender of default from the borrower...

Hear me out...your already qualifying for the loan...if your DTI and FICO support you getting debt...then perhaps something other than LTV should negate PMI/MI...maybe set the guidelines at an 800 FICO and no PMI/MI is warranted...dont you think this would "open the door"...pun intended...to price points that would otherwise disqualify a borrower because of payment with the additional PMI/MI included in the payment...

HOW CAN THIS BE CHANGED

Just a thought...what say you??

[Sergey A. Petrov]

years and years and years of real estate lending drove those guidelines. doesn't matter what your score is, if the property values tank 20%, you lose your job, something else happens, your priorities shift elsewhere and your home loan becomes less of a priority because you can pick up an identical home at a 20%+ discount so you walk away from the one you leveraged to 99%....