Mortgage Connects
MI standard coverage 101 - Episode 13
Jeff Platfoot, MGIC Customer Trainer
MI standard coverage 101
With a recent search increase of the term "standard coverage," we take a deeper dive with MGIC's customer trainer, Jeff Platfoot, to learn what MI standard coverage is and its direct impact on the lender.
Episode breakdown:
- What is MI standard coverage level and why is it important? (0:27)
- Does premium type matter as it pertains to coverage levels? (4:17)
- Does the lender have the ability to modify the coverage level? (5:16)
- How does MI coverage impact a lender if a loan were to go into default? (6:10)
The opinions and insights expressed in this Q&A are solely those of its interviewee and do not necessarily represent the views of either Mortgage Guaranty Insurance Corporation or any of its parent, affiliates, or subsidiaries (collectively, “MGIC”). Neither MGIC nor any of its officers, directors, employees or agents makes any representations or warranties of any kind regarding the soundness, reliability, accuracy or completeness of any opinion, insight, recommendation, data, or other information contained in this blog, or its suitability for any intended purpose.
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Jeff Platfoot
Leading MGIC’s training team for over 20 years, Jeff Platfoot has over 35 years of experience in the mortgage industry, including in positions in sales/origination, underwriting and underwriting management. Much of his focus today is on delivering MGIC’s best-in-class specialized training curriculum, teaching the key skills, techniques and best practices needed to build your team’s confidence within essential areas of industry knowledge.
Jeff is passionate about helping mortgage professionals to compete in today’s fast-paced lending environment. He loves to help customers develop a depth of understanding on a wide range of topics, including origination, loan products, industry updates and processing.