I have heard this all year in California. I doubt WAMU is the only bank.
Not only do you need 25%, but if not, the PMI rates have gone through the roof here. I've heard people paying $500/month with good credit and very small mortgages for the area.
I don't know anyone personally, but much talk about it on the radio call-in shows. WE are trying to refi but we have well more than 25% equity, so personally have not heard much about PMI.
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