PMI Cancellation

Posted By: swiggles

PMI Cancellation - 09/04/14 07:07 PM

We have ONE loan on our books covered by PMI. The owner sold the home so the loan will be paid off.

I know this is a dumb question, but do we notify the PMI company of the pay off, or just quit paying? I've not had this question before for obvious reasons.
Posted By: ahkcompliance

Re: PMI Cancellation - 09/04/14 07:13 PM

We notify our PMI company. They could receive a refund if paid in advance.