Servicing Guide

Published September 9, 2020

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What is the dollar amount or level of improvement required to meet the requirements of borrower-initiated MI termination request based on Current Value with substantial improvements?

Borrower-initiated MI termination based on Current Value with substantial improvements is an option that allows a borrower to remove MI based on the substantial improvements versus using those funds to pay down the UPB to meet the applicable MI termination LTV threshold. A good reasonableness test is the dollar amount a borrower spends on substantial improvements should be commensurate with the additional dollar amount required to reduce the UPB to meet the required LTV ratio based upon the property value at origination.    

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If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

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