1. Make a copy of the LOMA for your file.
2. Contact your SFHDF vendor and ask them to give you a new SFHDF with the LOMA info.
3. If there's insurance in place, contact the agent and tell them you're releasing the requirement to have insurance. They'll want a copy of the LOMA too. The customer should then get a refund of the insurance premium.
What if the bank has been forceplacing coverage for a few years prior to the receipt of the LOMA letter. Is the bank subject to the same refund of premiums. The customer is refusing to pay us the forceplaced premiums, and our belief is that we cannot obtain refunds, that only the customer can.