Mortgage Insurer Questions

[buzzlightyear]

How does a MI analyse a loan application requiring LMI? Given a bank looks at income, nets assets, property price through its valuation etc..., what other factors are relevant to a MI'er?

Just finally, does anyone know which MI'er ANZ & Macquarie Bank use?

 

[Rolf Schaefer]

Hi Buzz,
other factors could be (but are not limited to):

• Residential and employment stability
• Net asset base
• Overall exposure to LMI
• Repayment history

ANZ insures in-house (but actually uses PMI policy and products)
Macquarie uses both PMI and Genworth

Happy Easter