On July 10, 2018 the Federal National Mortgage Association (“FNMA”) introduced “Enterprise-Paid Mortgage Insurance” (“EPMI”) as an alternative to the more traditional borrower-paid and lender-paid private mortgage insurance plans (“BPMI” and “LPMI”, respectively). FNMA is rolling-out EPMI in a pilot program for testing, which may eventually turn into a program which all lenders may use. Details of this program can be found at: http://www.fanniemae.com/portal/research-insights/perspectives/enterprise-paid-mortgage-insurance-schaefer-071018.html.
We are currently reviewing this change to determine any impact to our document library and/or systems and evaluating any necessary changes. Any modifications we make will be announced on our website (https://compliance.docutech.com/).