LMI - Get this!

[lawsjs]

From: Jeremy Laws


Whilst trying to buy a hovel without Xing loans, I heard a new comment from a mortgage insurer. I don't know which one it was but it came through AMP. It appears it was probably GE.

"We won't do it because we are not in the business of helping with peoples wealth creation"

Mr Croft:- I was of your opinion as well!! I suspect that they may also be making money from issuing insurance as well......

 

[Anonymous]

Reply: 1
From: Anonymous


That is funny. Currently AMP look like they are having trouble in their own wealth creation.

Probably why they won't help others....

<B>Cheers,
Robert

 

[lawsjs]

Reply: 1.1
From: Jeremy Laws


Wasn't the bank dopey, it was the mortgage insurer!

 

[Michael Croft]

Reply: 1.1.1
From: Michael Croft


Interesting, I thought they were in the business of making money by assessing risk and then charging a premium for guaranteeing the loan. Didn't think the purpose of the loan entered the equation.

Michael Croft