PHILADELPHIA - Commonwealth Mortgage Assurance Co. has introduced a mortgage insurance product that does not require an initial premium payment at closing.

The so-called Deferred Monthly Program requires the lender to inform Commonwealth when the borrower's first loan payment is due. The lender then collects the initial insurance payment with the mortgage payment, and Commonwealth bills the lender 10 days later.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.