BoA and LPMI Loans and HARP

LPMI is not a deal breaker in itself.. RMIC however is for some lenders... if your loan is a Freddie Mac loan, you might not be able to do anything.. If it's a Fannie Mae loan, then you might have a chance.. we have lenders here in Az that will accept RMIC LPMI clients, but most don't... Click on the link above "Find a Lender" and type in your zip code.. you should get a list of nearby lenders... just reach out to them and see... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

I might be able to help you with a HARP loan. My company works with RMIC. I don't know their policy on transferring LPMI to a new loan and will have to wait until Monday to find out. Effective August 20, 2012. Updated HARP Policies and Procedures now allow conversion of LPMI to BPMI. This policy is so new I am not sure if all companies are doing it or just some. I have done a couple of RMIC transfers without any problems. I just don't know right now about the Lender Paid MI with RMIC. Give me a call. I am working today. 801.550.1222 or email me at linda@lindamillergroup.com. Linda

Just got an answer from my branch manager and he is pretty sure we can do the LPMI transfers on a HARP loan. I'm in Salt Lake City so although most can be done over the phone, I am local and convenient. My HARP loans are taking about 30 days. Give me a call - 801.550.1222. Linda