Contact: MICA (202) 393 5566
Email: pat@micadc.org
PrivateMI Industry Launches Spanish-Language Web Site to Boost Hispanic Homeownership
The private mortgage insurance (PrivateMI) industry today launched a new, Spanish-language version of the popular www.PrivateMI.com. PrivateMI en Español, www.PrivateMI.com/enEspanol/, will provide clear, easy-to-understand information in Spanish about private mortgage insurance (PrivateMI) and how it compares with other home financing options."Although Hispanics are the fastest growing minority group in America, they are still underrepresented in the ranks of homeowners," said Frank P. Filipps, Chairman and CEO of Radian Guaranty Inc. and President of the Mortgage Insurance Companies of America (MICA), the industry's trade association. "To help encourage homeownership among Spanish-speaking Americans, we plan to tell them how PrivateMI helps more people buy homes sooner, for less money down."
www.PrivateMI.com/enEspañol/ will include five calculators to help consumers make informed decisions about home financing. One calculator allows prospective home buyers to determine how much sooner they can buy a home using PrivateMI rather than saving for a larger downpayment. A second lets them assess how much more house they can buy with its help. Others assist consumers in comparing PrivateMI with other financing options like the piggyback loan, and calculating how soon PrivateMI can be canceled.
"With home buyers of all backgrounds seeking more information from the Internet, translating the information on our existing Web site into Spanish is just common sense," said Suzanne C. Hutchinson, Executive Vice President of MICA. "Giving people the home buying information they need, in the language they understand, will make the decision to buy a home that much easier," Hutchinson observed. "The more potential home buyers learn about the benefits of PrivateMI, the sooner we can help them become homeowners," she added.
To learn more about PrivateMI en Español, log on to www.micanews.com/enEspanol/.
MICA is the trade association representing the private mortgage insurance industry. Its members help loan originators and investors make funds available to home buyers with as little as 3-to-5 percent down — and even less for qualified borrowers — by protecting these institutions from a major portion of the financial risk of default.