MI Termination Using SMDU

Borrower-Initiated Mortgage Insurance Termination

The mortgage insurance (MI) termination tool within SMDU™ makes it easier to evaluate borrower requests for conventional mortgage insurance termination based on the Original Value and/or Current Value of the property.

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Key Benefits
  • Automated evaluation and decisioning ensures compliance with Fannie Mae policy
  • Access to no-cost automated valuation model (AVM) and/or standardized pricing for BPO/appraisal
  • Simpler evaluation process and lower costs for a better borrower experience
  • Offers servicers limited liability relief when using SMDU™ decision
How It Works
  1. Borrower requests MI termination based on the Original or Current Value of the property (with or without substantial improvements)
  2. SMDU automatically provides data required for an evaluation
  3. SMDU applies a no-cost AVM to evaluate for Original Value. For Current Value or when an AVM can’t be used, servicer orders a BPO/appraisal
  4. When SMDU has the property value, it evaluates the loan and supplies a real-time decision
  5. Servicer retrieves invoice for completed valuation from Fannie Mae invoicing (when applicable)
Product Availability
SMDU Availability

Every day, 24 hours a day, except from 7 p.m. ET Sunday to 5 a.m. ET Monday due to maintenance. For SMDU Case Management, refer to the AMN application hours of availability.