| SIC Codes: | 6331 |
| NAICS Codes: | 524126 |
Companies in this industry provide mortgage guaranty insurance products to protect lenders against mortgage loan default. Activities include issuing private mortgage insurance (PMI) to residential mortgage lenders; such mortgage insurance reduces the financial risk to lenders and is often required when the amount of the loan exceeds the property's appraised value by a certain percentage. Lenders also routinely use mortgage insurance as a means of reducing the required down payment amounts put forth by home buyers.