March 19, 2021: Retained Loans - PMI Removal Review Occurs When a Recast is Complete

Reminder: When a retained servicing loan completes a recast, it is automatically reviewed for PMI removal.  In this specific instance, a separate written request is not required for PMI removal review.


If the retained servicing loan qualifies for PMI removal after the recast is completed, customers will receive a letter advising of this change to their loan and a new billing statement reflecting the adjusted payment amount.


Please speak with your supervisor or manager if you have any questions.