Finance
Private Mortgage Insurance (PMI) primarily protects:
AThe borrower in case of job loss
BThe lender in case the borrower defaults✓ Correct
CThe title company against title defects
DThe homeowner against property damage
Explanation
PMI protects the lender (not the borrower) if the borrower defaults on the loan. It is typically required when the borrower's down payment is less than 20% of the purchase price.
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