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Get FB Document 3290 2004-2024

S against financial loss when borrowers default. Your loan will have "lender paid" mortgage insurance ("LPMI"). Lender paid mortgage insurance differs from "borrower paid" mortgage insurance ("BPMI") in several ways, and each form of insurance has advantages and disadvantages. · First, LPMI may not be canceled by you, the borrower. By contrast, borrowers may be able to cancel BPMI on either (1) the date the principal balance of the mortgage loan is first scheduled to reach 80% of the original.

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