Total MI^® FAQ

Total MI is a suite of mortgage insurance (MI) tools that digitizes and integrates the tri-party workflow among MI companies, Servicers and Freddie Mac. The tools enhance efficiency around three processes for loans with private mortgage insurance (PMI): reconciliations, claims and cancellations.

Total MI solutions digitize and automate MI activities and bring transparent, timely and accurate data to the tri-party workflow.

Total MI delivers different capabilities at different points in time. The first release, Total MI Reconciliations, launched in May 2022, followed by Total MI Claims in Q3/Q4 2022. Total MI Cancellations is scheduled to launch in Q4 2023.

Mortgage insurers will be required to use all the tools, either through the user interface (UI) or application programming interfaces (APIs) Servicer are required to use Total MI Reconciliations to reconcile MI information provided by a mortgage insurer. Servicers may use Total MI Cancellations to provide near real time decisioning on eligibility for a borrower’s request to cancel borrower-paid MI based on a home’s current value. Servicers may use Total MI Claims to view and research claims activity between Freddie Mac and the mortgage insurer.

Each tool will be accessible in two ways: through a web-based UI via Servicing Gateway or by direct integration through APIs. (Please note there is no claims API for Servicers.) For the UI, work with your Access Manager administrator to request access once each tool is available. For APIs, visit the Total MI API web page. Single-Family Seller/Servicer Guide (Guide) Bulletins and other client communications announce specific details related to timing and access.

Both options enable mortgage insurers and Servicers to complete mortgage insurance activities, however APIs offer more opportunity for automation and efficiency.

UI – For each tool, users log in from Servicing Gateway to see a dashboard summary of related mortgage insurance activities (i.e., reconciliation cycle progress), search loan activity and complete a process through a workflow, if applicable.

API – For each tool, users connect directly through B2B integration and data is exchanged from one system to another. (Please note there is no claims API for Servicers.) Learn more about Total MI APIs or contact your Freddie Mac account manager.

Visit the Total MI API webpage to learn about the APIs and request credentials for the Developer Portal, where you can view documentation, build, test, and go to production—all in one place. It can take between 5-7 months from the start of the integration process to deployment, including access management, change management, testing, training, and deployment.

For the best experience, we recommend using Google Chrome™ to access Total MI. Other browsers are not fully compatible with Total MI solutions and may prevent the ability to access certain functions.

Visit the Freddie Mac Learning Total MI Servicing Resources web page for webinars, tutorials, job aids, and other resources that support each tool as they become available.

Reconciled loans include those with PMI as well as newly funded and/or post-funded data corrections from the prior two-month period.

It’s a digital tri-party process in which a mortgage insurer verifies and validates Freddie Mac loans with PMI, as well as loans that are newly funded and/or have post-funded data corrections. Tool users are notified via email about discrepancies for each cycle to validate, correct and complete during the reconciliation process.

Loan discrepancies occur when Freddie Mac is not the investor or when loans have failed business logic in the reconciliation process. Any failed discrepancies carry over one subsequent cycle as “re-check discrepancies.”

The reconciliation process applies to all mortgage insurers with Freddie Mac loans that have private MI (newly funded loans or loans with data corrections), and any Servicer with discrepancies identified by mortgage insurers as part of the reconciliation. Mortgage insurers and Servicers will continue to receive email notifications to complete their part of the reconciliation process.

• A reconciliation occurs every other month (odd months).
• A mortgage insurer receives a notification on the first business day of the month and has 10 business days to complete the validation.
• Freddie Mac then reconciles the response.
• If there are still discrepancies, the Servicer (tool user) receives an email notification around the 11th business day and has 10 business days from that date to complete the validation.

To fix discrepancies, upload the corrected MI data into the Total Reconciliations tool.

At this time, only the Servicer of record will have access to download the data, upload corrected data and attest to the data to complete the reconciliation process. The Servicer of record may need to work separately with their subservicing agents to complete a timely reconciliation.

Total MI Claims provides the Servicer the ability to view and research claim activity between Freddie Mac and the mortgage insurer. In the event a claim is curtailed due to servicing activity, Servicers have the information needed to understand potential billing activity. It also replaces a manual email and spreadsheet process.

Mortgage insurers can view specific claimable expenses based on their MI company’s guide and policy and share input about applicable claim expenses.

Billable amounts are reflected on a Servicer’s eBill invoice and users are notified if they are billed an amount as part of a claim. Total MI Claims outlines the breakdown and explanation of each billed amount in a clear way that allows for swift resolution.

For Servicers, request access to Total MI Claims from your organization’s Access Manager administrator. Note: A Total MI Claims user must be set up only under their global Family Servicer number. Do not set up multiple counterparty numbers.

We also recommend access to eBill, specifically the ‘MI Curtailment Fee on FPL01’ billing line, to facilitate claim reconciliation.

For mortgage insurers, your account representative will facilitate set up and access to Total MI Claims.

The process will be the same, but the tool provides a new and improved method for managing claims and tri-party collaboration. Freddie Mac files a claim, a mortgage insurer acknowledges the claim with an explanation of benefits (EOB), and a supplemental claim is then filed and paid, if necessary. Servicers will be able to view the claims lifecycle and upload documentation, as applicable.