In accordance with Fannie Mae guidelines, Cenlar has amended our current process for determining eligibility for borrower-requested PMI removals based on original value.
Effective January 8, 2018, we will require a Full Appraisal or a BPO on all borrower-requested PMI removals in order to certify the property value has not declined since loan origination. The valuations will be ordered at a cost to the borrower.
You have the option to select one of the above valuations, which will be used as part of the removal review process for your portfolio.
Please contact your Relationship Manager to notify them of your selection prior to January 8, 2018, and for any questions or concerns.