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I have no idea if it still exists. I am mainly concerned with it's perceived failure. It appears that it protected no one.

In the heyday of the boom, all those who could not afford to put down 20% had to pay private mortgage insurance (PMI). Of course this is not to protect the home buyer but to protect the banks and mortgage companies. When the shit hit the fan, it appears that PMI protected no one. How does PMI...