Unearned MIP
|
Unearned MIP
|
|||
|
|
|||
| For streamline refinance cases, unearned MIP from the old case is applied toward UFMIP due on the new case. | |||
|
|
The available refinance credit amount (unearned MIP) displays on the Case Master Summary page. (See Site Map: Single Family Origination, Upfront Premium Collection, Case Master Summary.) | ||
|
|
If the UFMIP due exceeds the unearned MIP, the lender must remit the difference. | ||
|
|
If the unearned MIP exceeds the UFMIP due, the lender must make an upfront remittance of $0.00. This triggers the unearned MIP to be transferred from the old case to the new (refi) case. | ||
|
|
|||