RC_LA_DA_303.3 PMI Claims Essentials
| Option | Price |
| Member | $50.00 |
| Non-Member | $100.00 |
The most favorable outcome of a foreclosure for a servicer is when a third party purchases the property at the foreclosure sale. This helps minimize or eliminate losses for both the investor and the servicer. However, if the sale proceeds do not fully cover the costs incurred during the foreclosure process, and the loan is a conventional one insured by private mortgage insurance (PMI), the servicer may file a claim with the PMI provider to recover the shortfall.
PMI Claims Essentials describes the claims process for conventional mortgage loans with private mortgage insurance. The course begins by describing how to file a PMI claim. Next, it outlines which expenses are claimable and which are not. The course then describes the claims package and the disposition of claims proceeds. Finally, the course looks briefly at the Fannie Mae and Freddie Mac claims filing processes.
This is a single-family/residential course.
Topics:
- Initiating the Claims Process
- Claimable vs. Non-Claimable Items
- The Claims Package
- Disposition of Claims Packages
- Fannie Mae and Freddie Mac Claims Procedures
Seat time approximately 30 mins.
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