How to Remove PMI from Newrez (Shellpoint/PHH)

Newrez services a large volume of mortgages, and its servicing operation also runs under the Shellpoint and PHH brands. If your loan sits anywhere in that family, you can cancel PMI without refinancing once you have the equity — the main wrinkle is the multi-brand structure, which can make it harder to know exactly who you're dealing with and where to send your request.

Step 1: Confirm Who Services Your Loan

Check your most recent statement to see which brand name appears — Newrez, Shellpoint, or PHH — and which department handles PMI. Sending your request to the right place the first time avoids a common source of delay on multi-brand platforms.

Step 2: Estimate Your LTV

Calculate your loan-to-value ratio — current balance divided by your home's value. For a conventional loan, PMI is automatically terminated at 78% of the original appraised value, but you can request cancellation earlier once you reach 80% LTV.

Step 3: Check the Eligibility Rules

Newrez/Shellpoint applies specific conditions before it will cancel PMI on request:

• The home must have been your primary residence for more than 24 months.
• You need a continuous 12-month history of on-time payments before the request.
• You can't have made a payment more than 60 days late in the 24 months before the request.

Step 4: Submit a Written Request

You must submit your request in writing. The easiest path is through your online account: sign in, open Account Details, click Contact Us, and choose PMI Cancellation. You can also call the customer care line. Either way, include your loan number, the property address, and a clear statement that you're requesting cancellation based on current value.

Step 5: The Valuation and Follow-Up

To confirm current value, you may be charged for an appraisal, a Broker Price Opinion (BPO), or a certificate of value — the type depends on your loan, and the cost is yours. A full appraisal commonly runs as much as $500. Get the specific fee and valuation type in writing before anything is ordered.

Then follow up regularly, keep notes of every interaction including which brand and department you spoke with, and request written confirmation once PMI is removed.

The Bottom Line

PMI removal with Newrez, Shellpoint, or PHH follows the same fundamentals — the extra challenge is the multi-brand structure. Confirm who services your loan, clear the 24-month residence and payment-history rules, submit the request in writing through the right channel, and get the valuation type and fee confirmed up front.

PMI Ninja cuts through the Newrez/Shellpoint/PHH confusion — confirming the right department, pinning down the valuation cost, and managing the request through to confirmation.