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PMI means Private Mortgage Insurance. If you’ve made a down payment on your property of

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

less than 20 percent of either its value or sale price, you must carry PMI. PMI protects

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

your lender against you defaulting on the loan.

The Mortgage Bankers Association of Ame

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ica lists PMI fees at about one-half of one percent of your loan. So, if you have a $200

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

000 home loan, you’ll multiply the amount of your loan times 0.005 to get a $1,000 annua

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

l payment due to your lender. This is divided into monthly PMI payments then of $83.33.

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

What To Do When It’s Time To Stop Paying A PMI

Monitor your mortgage payments. W

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

en you’ve paid so much on the principal of your mortgage that the amount of your loan is

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

80 percent or less of the actual value of your property, you no longer are required to p

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ay PMI. Call your lender and tell them that they can stop billing you for PMI premiums!

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

One thing to keep in mind is that if property values in your neighborhood are rapidly ri

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ing, the value of your home may actually be more than you think. You might want to get a

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

new appraisal to determine how much your property is worth and to compare that with the

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

amount of your loan!

How To Avoid Paying A PMI

PMI payments are not tax-deducti

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

le. So, many borrowers try to find ways around paying PMIs.

The main way to get around

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

aying a PMI is acquire an 80/20 loan. If the first mortgage is equal to 80 percent or le

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

s of the value of the property, you aren’t required to pay a PMI. If you get a second mo

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

rtgage at a higher interest rate, your total payments will still be lower than having to

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

pay a PMI.

Some lenders will actually forgo PMI, if you agree to pay a higher interest

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ate on your mortgage. The benefit is that interest payments are, in fact, tax-deductible

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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