CRT-Eligible Profile Summary

How MI Works: Typical Loan MI Coverage acquired by Lender Fannie Mae's requirement for MI Coverage Percent determined by Original LTV Loan Origination Last Paid Installment Servicer Informs MI of 60-day DQ Foreclosure Date Fannie Mae files claim within 60 days of Foreclosure = MI Benefit Settled with the "Percentage Option" (Default UPB + DQ Interest Allowable Expenses) x MI Coverage % Claim Paid Property Disposition Date Potential MI Cancellation due to: Loan balance amortizes to 78% of original property value (automatic) Loan balance reduced to ≤ 80% of original property value (borrower initiated) Loan balance reduced to ≤ 80% of current property value (borrower initiated) Loan must be current and meet other requirements Foreclosure Expenses Accrued DQ Interest* Foreclosure Costs** Asset Recovery Costs** Associated Taxes** Misc.** * The covered loss may be curtailed based upon eligibility under MI policy ** The covered loss may be estimated under MI factor Accrued Disposition Expenses Residual loss (net of MI Benefit) applied to CIRT structure 90 days after property disposition Property Preservation Associated Taxes Misc. The claim must be "perfected" (received all required documentation) within 120 days of claim filing, and settled within 180 days of the "perfect date." 54 © 2024 Fannie Mae

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