LPMI (ditech paid) ditech's Lender Paid Mortgage Insurance Program

Follow ditech's LPMI Product Matrix for underwriting details. Ditech orders the MI

Use ditech's rate sheet to make the appropriate LLPA adjustmentsDisclosure must be specific to Lender Paid MIQM friendly = MI fee is not shown on Loan Estimate or Closing DisclosureCorrespondent does not order or pay for the MI for this product - ditech will order the MI when the loan is delivered

LPSP (Correspondent Paid) Lender Paid Single Premium

Follow the product matrix to ensure thie MI option is allowed (See Mortgage Insurance Section of Product Matrix)

MI Certificate must show as "Lender Paid". Correspondent orders the MIMust use an approved MI Company, as noted in the product matrixThe disclosures must be specific to Lender Paid MIQM friendly - MI fee is not shown on the Loan Estimate or the Closing DisclosureCorrespondent will order and pay for the MI, even if ditech is underwriting the loan

Include the MI Certificate with the Credit Package if ditech is underwriting

When Correspondent underwrites the loan, include the MI Certificate in the Closed Loan Package

Upon delivery of the loan, provide proof of payment for the MI premium. Provide a copy of the check from the Title Company or Closing Attorney to the MI company or the wire to the

MI Company along with a Fed reference and amount paid

BPSP (Borrower Paid MI with Correspondent Credit) Borrower Paid Single Premium

Follow the product matrix to ensure this MI option is allowed (See Mortgage Insurance Section of Product Matrix)

MI Certificate is ordered as "borrower paid". Correspondent orders the MIMust use an approved MI Company, as noted in the product matrixThe disclosures must be specific to a borrower paid MI MI Premium is disclosed on the Loan estimate - in Section B - then offset it with a credit

Show the amount of the lender credit - 2nd page right side toward the bottom are where credits are reflected

MI Premium is disclosed on the Closing Disclosure in Section B On the far right side, input the amount paid under the paid by other column

When structuring BPSP utilizing a lender credit - the BPSP may not be financed, it must be fully paid at closing with a creditCorrespondent will order the MI, even if ditech underwrites the loan

Include the MI Certificate with the Credit Package if ditech is underwriting

When Correspondent underwrites the loan, include the MI Certificate in the Closed Loan Package

Upon delivery of the loan, provide proof of payment for the MI premium. Provide a copy of the check from the Title Company or the Closing Attorney to the MI company or the wire to the

MI Company along with a Fed reference and amount paid

MI Made SimpleWays to pay for your borrower's MI

Client Services – 877-700-4622 Option #9 6/28/16