Mortgage Insurance (MI)
Fannie Mae
Updated 10-31-2026
Mortgage Insurance (MI)
A financial backing type under which a private insurer (and sometime a state or local entity) insures the mortgagee against losses from borrower default, by agreeing to cover a percentage of the losses in return for the payment of a specified mortgage insurance premium.
Fannie Mae Glossary of Terms
Fannie Mae · p. 32
FreddieMac
Updated 10-31-2026
Mortgage Insurance (MI)
See Private Mortgage Insurance.
FreddieMac Glossary
FreddieMac · p. 10
FTC
Updated 10-31-2026
Mortgage Insurance (MI)
Insurance that protects lenders against losses caused by a borrower's default on a mortgage loan. MI typically is required if the borrower's down payment is less than 20 percent of the purchase price.
FTC Real Estate Terms
FTC · p. 12
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