Mortgage

Down payment insurer ValueInsured now offering refi protection

Protects equity if borrower needs to sell at a loss in the future

ValueInsured, a company that provides down payment insurance for borrowers, is now also offering equity protection for borrowers who want to refinance their mortgage.

The company announced the new offering during the Mortgage Bankers Association Annual Conference in Denver this week.

Earlier this month, ValueInsured announced that it raised $6.5 million to fund the company’s growth, and now ValueInsured is growing beyond its flagship offering.

Through the +Plus Equity Protection program, borrowers pay a premium in exchange for ValueInsured agreeing to reimburse up to the full amount of their equity if the borrower needs to sell at a loss in the future and market home prices have fallen.

“Like down payments, home equity represents a large portion of homeowners' savings,” said Joe Melendez, CEO of ValueInsured.

“That’s why we’re excited to expand our mortgage coverage options and now offer equity protection on home refinances,” Melendez said. “As we continue to attract more lender partners, the addition of coverage for refinances rounds out our offering and protects the vast majority of all home loan transactions.”

According to the company, the +Plus Equity Protection program is now available immediately through ValueInsured's current network of retail loan officers, correspondent lenders and wholesalers nationwide.

About the Author

Most Popular Articles

Housing market flashing recession signal

The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.

Oct 11, 2019 By

Latest Articles

Foreclosure activity drops to lowest level since 2005

Foreclosure activity sank in the third quarter of 2019, dropping to the lowest level in nearly 15 years, according to the latest report from ATTOM Data Solutions. Foreclosure activity in the third quarter fell 19% from a year ago to the lowest level since the second quarter of 2005, a 13-year low.

Oct 16, 2019 By