"The question I keep asking and no one wants to answer is what happened to the Private Mortgage Insurance (PMI) the homeowner paid for before foreclosing. If PMI is meant to insure the MORTGAGOR against default, why are these banks going under??? The PMI insurers should be taking the losses!!!"The comment above was a response to a Washington Post article "Calling Out the Culprits Who Caused the Crisis".
Can any of our readers answer the question? It's a good one.