Servicing Guide

Published September 9, 2020

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What is the loan to value eligibility criteria for borrower-initiated termination of conventional mortgage insurance based on original value of the property?

The following table describes the LTV ratio eligibility criteria.

If the mortgage loan is secured by... Then the LTV ratio eligibility criterion is met...
  • a one-unit principal residence or

  • second home

on the date the mortgage loan balance is first scheduled to reach 80% (or actually reaches 80%) of the original value of the property.
  • a one- to four-unit investment property or

  • a two- to four-unit principal residence

on the date the outstanding principal balance of the mortgage loan reaches 70% of the original value of the property.

Note: The servicer must determine the original value of the property in accordance with applicable law.

For more information, please see Servicing Guide: B-8.1-04, Termination of Conventional Mortgage Insurance 

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