First Name: Michael
Last Name: Hawkins
City: Bridgeview
Country: United States
State or Province: IL
Postal Code: 60455
Organization Name: Federal Loss Recapture Corporation
Comment Info: =================
I would like to suggest the Enhanced Private Mortgage Insurance- this
insurance
would cover 21 to 100 percent of the mortgage in a similar way as the
regular PMI,
that covers 1 to 20 percent of the mortgage. It should be required on all
new
mortgages that are not conventional meaning that they are within the loan
ratio's
28/33 for Gross income/PITA. The pricing could be calculated in a similar
way.
Problem: by requiring this will add costs to the troubled assets
automatically, but
will eliminate the problem in the future. I feel that this was the original
intent, to
eliminate this from happening again by requiring them to be insured against
loss
not to add costs to those already troubled.
Thank you,
Sincerely,
Michael Hawkins
