Home > Rates > Premium refunds

Mortgage insurance premium refunds

We offer refundable and non-refundable premium plans. Each loan's insurance Commitment/Certificate specifies whether it is eligible for a mortgage insurance premium refund.

Premium refund guidelines

Refundable premium plans

Premium Plan Initial Insurance Effective Date Refund Calculation
Annual Premiums Prior to 7/29/1999 See our Annual Premium Refund Schedule.
Annual Premiums On or after 7/29/1999 Prorated refund – We calculate this refund based on the number of days of coverage in force divided by 365 days
Monthly Premiums N/A Prorated refund – We calculate this refund based on the number of days of coverage in force divided by 30 days
Single Premiums — Borrower-Paid N/A See our Single Premium Refund Schedules.

 

We will not provide a refund for any period more than 45 days prior to our receipt of the required mortgage insurance cancellation notice.

We will mail premium refund checks to you. For annual and single premiums less than $5, we will only provide a refund upon request.

Non-refundable premium plans

Our borrower-paid, non-refundable premium plans may be partially refundable if the borrower or lender terminated mortgage insurance under the Homeowners Protection Act (HPA). We base these refunds on our HPA refund schedules. Otherwise, premium under these plans is non-refundable.

Non-refundable Single Premiums – HPA cancellation

Refer to the appropriate HPA refund schedule.

Initial insurance effective date     Property state
 July 29, 1999 – Sept. 8, 2013   All states
 Sept. 9, 2013 and after  All states except AK, MD
 Sept. 9, 2013 and after  AK only
 Dec. 17, 2013 and after  MD only

Refundable Single Premiums – lender-requested cancellation

Refer to the appropriate 5-year refund schedule

Initial insurance effective date Property state
April 30, 2001 and before All states
May 1, 2001 - Aug. 1, 2004 All states
Aug. 2, 2004 - Sept. 8, 2013 All states
Sept. 9, 2013 and after All states except AK
Sept. 9, 2013 and after  AK only

Refundable Annual Premiums – lender-requested cancellation

Refer to the refund schedule or calculation, as appropriate.

Initial insurance effective date Property state
Prior to July 29, 1999 All states
July 29, 1999 and after
We will provide a prorated refund based on the number of days insurance is in force divided by 365 days, and then multiplying the resulting percentage by the annual premium amount.
All states

Refundable Monthly Premiums

We will provide a prorated refund based on the number of days insurance is in force divided by 30 days, and then multiplying the resulting percentage by the monthly premium amount.