Selling Guide

Published July 07, 2021

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What special feature code should be used in delivering a mortgage loan with financed MI?

Special Feature Code 281 is used to identify mortgages that have a borrower-paid mortgage insurance premium that is financed in whole or in part into the loan amount. The gross LTV ratio is determined after the financed premium is added. The mortgage insurance premium is determined before the premium is added to the loan amount.

For additional information, see B7-1-04, Financed Borrower-Purchased Mortgage Insurance.

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