Everybody hates private mortgage insurance or PMI. Some say it should be illegal. Mortgage insurance is a fee that the customer pays to protect the interest of the lender. Typically any loan that is more than 80% loan to value of the house will have private mortgage insurance attached to it. Witnessing what has occurred in the mortgage world over the last few years it seems more justified that lenders can charge a premium for loans with little or no equity.

The purchase of a home is a major financial commitment, and how best to safeguard your investment is something you have to consider. There are a range of insurance products currently available to make sure that your home and your family’s lifestyle are protected. However, before you can make an informed choice, it is important to take the time to look at all the possibilities of mortgage insurance options.

AIG, who has taken a beating on mortgage-related insurance bets may need to raise an additional $10 billion in cash on top of the recently-raised $20 billion in order to keep its rating.

The largest provider of private mortgage insurance in the United States MGIC Investment Corp. posted a $1.47 billion fourth-quarter loss on higher home delinquencies and payouts. It is also looking for ways to boost its capital.

PMI Mortgage Insurance Company Limited (PMI Europe), the AA rated European mortgage insurance and credit enhancement subsidiary of The PMI Group, Inc. (NYSE: PMI), announced the appointment of Beatriz Calvo as Country Manager for Spain today, as it prepares to enter this key European market.