Distributed mobility management (DMM) solution is proposed to address the downsides of centralized mobility management protocols. The standard DMM is proposed for flat architectures and always selects the anchor point from access layer. Numerical analysis is used in this paper to show that dynamic anchor point selection can improve the performance of standard DMM in terms of packet signalling and delivery cost. In next step, an SDN-based DMM solution that we refer to as SD-DMM is presented to provide dynamic anchor point selection for hierarchical mobile network architecture. In SD-DMM, the anchor point is dynamically selected for each mobile node by a virtual function implemented as an application on top of the SDN controller which has a global view of the network.