In response to customer demand, DocMagic has added a new charge titled "PMI Premium" to its dropdown list of charges.  This new PMI Premium may be used to enter upfront private mortgage insurance (PMI) into the DocMagic software.

Note that in lieu of selecting the PMI Premium from the Charges list in DocMagic, customers may continue to enter upfront PMI under the "PMI/MMI" section in the "Impounds" tab of DocMagic as described in this article here.  With the addition of the PMI Premium charge, customers now have the option of using either method.  Regardless of which method is used, Block 3 of the GFE (assuming the Lender Required GFE category is selected), Line 902 of the HUD-1 and the "Charges That in Total Cannot Increase More Than 10%" table on page 3 of the HUD-1 (assuming the Lender Required GFE category is selected) will populate accordingly.

If you have any questions, please contact DocMagic's Customer Service Department, at (800) 649-1362.