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Without a doubt, the self insurering is a gravy train. <85% LVR in most cases cat 1/2. The actual risk and default rate of these would be soooo low. From memory the default rate for cat 1 is <1%

Then why only 2 in Australia, why doesn't any other insurer jump in this space? Maybe we should all leave what we're doing and have SS LMI :D

Agreed insurance/banking both licence to print money if managed well. You have what people want, what most need. And to top it off not huge amount of competition.

People need to live within there means. Looking at my facebook during lunch saw around 7 young couples (seperate group) I know all in Bali at the moment holidaying. Most of them have also recently said how they're saving for a house or have recently purchase (with LMI/difficulties). Now I...

The Bank automatically notifies the mortgage insurer when an LMI insured loan is repaid. For LMI policies established prior to 25 July 2008, the mortgage insurer determines if a refund of premium is payable, and if applicable will send a refund directly to the customer within 6 weeks of being...

Robbery. People don't have to take LMI out, they can opt to save more. Yes prices are high, but from my understanding it's all relative. Mortgage insurers are a business, you can't blame them for wanting to make profit.

It makes sense that it's portable, but different DUA across banks... so many variables. Then at the end of the day would be less revenue to the insurer who would then recover the loss through increased premiums. Then benefit would be gone.