Retained Servicing – Disputing PMI Removal Denial

The procedure for disputing PMI removal denial for retained servicing customers has been published in KnowledgeOwl for Retained Servicing.  


View this information in KnowledgeOwl for Retained Servicing by navigating to:

Home  >>  Mortgage Insurance – MIP and PMI  >>  Disputing PMI Denial Job Aid 


Key points:

  • Dispute must be in writing – customer may complete a dispute form we can request or they may submit a detailed letter of explanation advising why they dispute the denial
  • Properties in Alabama and North Carolina must submit the dispute within 30 days of the original valuation
  • The escrow specialist will review the dispute and contact the customer by email within 30 days of receipt of the dispute or a call back will occur if needed


The procedure is shown below.  Please contact your supervisor or manager if you have any questions.

  

Disputing PMI Denial Job Aid

Purpose:  Use when the customer wants to the dispute the PMI denial.

Important Note: ServiceMac is required to be at an “arms-length” from the appraiser.  We do not have any impact on the determination of value.  We can submit the dispute on the borrower’s behalf, but it’s very important that we avoid any opinions of value.

If a customer calls to dispute the PMI denial and/or the valuations used for the denial, the designated Customer Service Team Member will complete the following steps:

  1. Confirm the customer’s intention is to dispute the PMI denial
  2. Advise we need the dispute request in writing via completed dispute form or a detailed letter with their explanation within 60 days of the date of the original valuation

Note: If the property is location is Alabama or North Carolina, the valuation dispute must be submitted within 30 days of the original valuation

  1. Navigate to PL03 and generate the CS022 Valuation Dispute Form
  2. Advise the customer to return dispute via email to the appropriate inbox (on the CS022 Form) or mail at PO Box 100077, Duluth, GA 30096-9377
  3. Advise once the written dispute request is received, an escrow specialist will review and process dispute to the property valuation vendor on their behalf

Note: An Escrow Specialist will contact the customer via email with the results of valuation dispute, typically within 30 days of the receipt of the form.   If a phone call is required, the CSESCC task will be opened

Notate the SERN screen in MSP with actions taken