<prompt> Human: Other than paying off 20 of the mortgage? Frankly it sounds like a total scam. Why are we required to pay PMI when the lender has already agreed that we are credit worthy?My mortgage is about 1 year old at 4.37 and my credit score is 786.  <response>: That you are worthy does not mean there is no risk of default.Its not a scam if you are made aware of the cost and agree to it. 