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I have a loan with BOA and I too have Lender Paid PMI and they will not approve a HARP because of i

  • January 02 2013 - Somers Town
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Answers (6)

Best Answer

LPMI and HARP are not necessarily a problem.  Would be happy to help out and put you in touch with someone in my group that is licensed in NY.
  • January 02 2013
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User.  Based on the numbers that you provided, this should not be a problem.  If you would like to contact me through my profile, we can discuss further
  • January 03 2013
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Oh that gives me some hope.  My unit is worth between $260-275 but I owe closer to $274.  I have ok credit and never missed a payt.  I have a fannie mae loan with lender paid PMI with BOA at a rate of 6.375%.  I live in Heritage Hills which is a well established condo association in Somers, NY (westchester county) I qualify for HARP  under the guidelines.
  • January 03 2013
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Are you under water and is your loan harp eligible?
  • January 03 2013
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Many lenders will approve this loan for you with LPMI.  I would keep on shopping as Justin suggests.

  • January 02 2013
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This is very common to see when a large servicer declines a HARP loan due to LPMI.   There are plenty of lenders who allow reissue of LPMI, and HARP 2.0 has helped to remove this barrier for most borrowers.   You will need to find a lender familiar with the LPMI reissue.
  • January 02 2013
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