Removing PMI. If you’re required to carry PMI, we’ll cancel it automatically on the date your loan-to-value (LTV) ratio is scheduled to reach 78%. How do I get rid of PMI? The requirements to remove MIP are complex and depend upon multiple factors and scenarios wh...

Describes what it means to remove escrow and provides information on how to request removal

How do I get rid of PMI? Removing MIP The requirements to remove MIP are complex and depend upon multiple factors and scenarios which are too numerous to list here, but please contact us to review your options for cancelling MIP.

With the cancellation of your prior policy, you should receive a refund on the remaining premium. To address the escrow shortage, please remit the refund from your prior insurance carrier to us for deposit in your escrow account. What should I do if I change insurance carriers?

There are 2 ways to remove a spouse’s name from the mortgage: Release of liability – You can ask your lender for a release of liability. This is a document that releases a borrower from their obligation to pay back the loan. The spouse remaining on the mortgage needs to qualify...

What kind of assistance options are available if I cannot pay my mortgage? Your options may include refinancing, repayment plans, and loan modification. How can I get assistance if I cannot pay my mortgage? You can complete a mortgage assistance application online and let us know w...

If there are any changes to your insurance policy or carrier, please let us know as soon as possible by sending us the Declarations Page. Visit www.mycoverageinfo.com/mrcooper and follow the simple instructions to upload your Declarations Page. Be sure to include your loan nu...

How do I get rid of PMI? The requirements to remove MIP are complex and depend upon multiple factors and scenarios ... ... Removing PMI. If you’re required to carry PMI, we’ll cancel it automatically on the date your loan-to-value (LTV) rat...

Conversely, if you have an escrow account and want to remove it, you can submit a request to remove escrow. Note: These requests are subject to eligibility requirements. Feel free to contact us any time with questions about your escrow account.

Learn how to remove your escrow account and pay your own property taxes and insurance bills. Find out the benefits, drawbacks, requirements and guidelines for escrow removal and how to request it.