Servicing Guide

Published November 10, 2020

For best results, pose your search like a question.

Guide Resources

For a comprehensive list of resources such as forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

Customers Recommend Ask Poli

AskPoli

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

Launch Ask Poli  

Download PDF Guide

You can also download the printable ~800 page PDF, which include links.

Download Now

How should a borrower's written request to cancel the FHA mortgage insurance premium based on the current value be handled?

Upon receipt of a borrower’s written request to cancel the FHA MIP based on the current value of the property, the servicer must evaluate the request in accordance with Fannie Mae’s provisions to terminate conventional MI based on the current value of the property, as described in Borrower-Initiated Termination of Conventional Mortgage Insurance Based on Current Value of the Property in B-8.1-04, Termination of Conventional Mortgage Insurance

The servicer must not cancel FHA MI for any FHA-insured mortgage loan in an MBS or other Fannie Mae-issued mortgage security pool.

See below for related Q&A's:

For FHA loans, what are the requirements when executing the termination or cancellation of FHA Mortgage insurance premium payments?

What are the servicer’s responsibilities if the criteria for canceling FHA mortgage insurance are satisfied? 

For more information please see: B-8.2-03 Termination or Cancellation of FHA Mortgage Insurance and FHA Mortgage Insurance Premium.

Have You Tried Ask Poli?

Poli knows. Just ask.

Ask Poli features exclusive Q&As and
more—plus official Selling & Servicing
Guide
content.

Try Ask Poli

Related Articles


AskPoli

Customers Recommend Ask Poli

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

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

X
Having Issues with Seeing this Page Correctly?

Use Firefox or Chrome   How to do a hard refresh in Internet Explorer
We recommend that you use the latest version of FireFox or Chrome.

Download Firefox
Download Chrome
  A hard refresh will clear the browsers cache for a specific page and force the most recent version of a page.
    Hold the Ctrl key and press the F5 key.
     

Email Us
If you still have Technical Support questions, feel free to emailAsk_Poli@fanniemae.com.