Fannie Mae sends update on National Mortgage Insurance
Fannie Mae used a letter to lenders to confirm the GSE has approved National Mortgage Insurance Corp. (NMI) as a mortgage insurer with permission to provide policies for conventional first mortgages.
Fannie Mae said NMI is not licensed to write mortgage insurance in every state, but it continues to try and obtain licensing within individual jurisdictions. Loans backed by NMI insurance can be delivered to Fannie Mae on or after June 1, 2013, if they possess notes dated on or after Jan. 16.
Clear here to read the letter for lenders.