During the past year, mortgage insurance has become an increasingly important component of credit enhancement in the home equity market. Mortgage insurance gained traction in the home equity market in 2000 and has already been used on about 10 deals thus far in 2001. Furthermore, mortgage insurance (MI) has covered well over 50% of the loans in these deals. In addition, most of the mortgage insurance has covered a significant percentage of each covered loan - so called "deep MI". In many cases, the mortgage insurance represents more than 75% of the credit enhancement.

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