WASHINGTON The Mortgage Insurance Companies of America has revamped its year-old Web site that explains private mortgage insurance to consumers, and has created a second site geared to policymakers and the news media.
We launched these Web sites to help the public understand how using private mortgage insurance can help them buy a home today, not someday, said Frank P. Filipps, chairman and chief executive officer of Radian Guaranty Inc. and president of the trade group.
The consumer site, PrivateMI.com, includes five calculators intended to help consumers make home financing decisions.
One calculator helps homebuyers determine how much sooner they can buy a home using private insurance, rather than saving for a large down payment. A second lets them assess how much more expensive a house they can buy with the insurance. Others help consumers compare the insurance with other financing options like piggyback loans, and calculate how soon the insurance can be canceled.
The new site, micanews.com, contains information to help legislators and the news media understand the private mortgage insurance industry and its challenges, the trade group said.
It also contains information about the trade groups print, radio, and online ads, which are designed to educate the public about the insurance.