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Why did I get a letter saying my PrivateMI application was denied after my lender said my insured loan was approved?

April 26, 2017application Approved Denied insured Lender letter loan privatemi said

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Why did I get a letter saying my PrivateMI application was denied after my lender said my insured loan was approved?

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Lenders make the arrangements for PrivateMI coverage on loans. They often send a mortgage application to more than one insurance company. One company may approve an application, while another may not. If a company denies coverage on a loan, it sends a letter to the borrower explaining why. The lender, meanwhile, may have obtained coverage on the loan from another company.