Hear: PMI To The Rescue? : Planet Money A listener asks why private mortgage insurance can't save the banks. An insurance expert says it's not going to be enough.
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Hear: PMI To The Rescue?

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Today on Planet Money:

With so many homeowners facing foreclosure, a lot of you have been asking about what effect that's having on PMI, private mortgage insurance. We get the answer from a insurance expert.

-- Listener Holly Yoders wants to know what happened to all the private mortgage premiums that were paid on mortgage loans with less than 20% down.

-- Economist Hampton Finer of the New York State Insurance Department says private mortgage insurance is going to be of limited help to banks.

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