01/17/2020: Procedure Change for PMI Removal Requests

The information in this newsflash applies to Retained Servicing Loans.

The Private Mortgage Insurance (PMI) Removal Application form is now available for customers inquiring about PMI removal.  This form provides the eligibility requirements and Investor guidelines for Fannie Mae and Freddie Mac loans.  The form also discloses the cost of an Appraisal or BPO, and customers must fill out and return the application to proceed with the PMI Removal process.

 Click here to view the PMI Removal Application form.

Procedure Change:

It is no longer necessary for customers to submit a separate written request when inquiring about PMI Removal.  Follow the steps listed below:

  • Review the PMI Removal guidelines while on the phone with customers
  • Click here to view the updated phone procedure in KnowledgeOwl or type “PMI Removal” in the KnowledgeOwl search bar

After discussing PMI Removal, order the PMI Removal Application so customers will have a copy of the requirements and guidelines in writing.  Follow the steps below:

  • Access the PL03 screen
  • Request Letter ID CS018 and press <Enter>
  • The cover letter and the application will be printed and mailed from the Servicing Center

See your manager or lead if you have any questions.