On conforming loans, the LO has the ability to input a financed MI % on the search form. Some investors (ex: Wells Fargo, Chase, Freedom) do not allow financed MI, but Optimal Blue is currently not able to disqualify based on a LO inputting a value in the PMI field.
Currently we are displaying an advisory stating that ‘All mortgage insurance premium types may NOT be available through the selected lender…’ for those lenders who do not allow financed MI.
We have opened a Technical Enhancement Case for the ability to script eligibility and adjustment rules based on financed MI. Please add your customer to the Customer Demand of Case #200033