Definitions for "MGI"
Mortgage Guarantee Insurance. An insurance policy designed to make good any shortfall between the amount owed on a mortgage and the value of the mortgaged property. Provides a benefit to the lender in the event of repossession resulting from non-payment.
Mortgage guarantee insurance. This is insurance that covers the lender in case your property is repossessed and the lender cannot get back their money. (The lender may add the MGI, which usually applies on high LTV mortgages, to the mortgage.) This is also known as MIG (Mortgage Indemnity Guarantee).
Master per Giuristi Internazionali
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Mechanized Generic Interface - See Mechanized Interface
Management of Government Information Policy