June 5, 2013
Introducing QMISM - United Guaranty’s Qualified Mortgage (QM)-Ready MI Products - including SmartSinglesSM Refundable Single Premium, available August 12, 2013 in Rate Runner®

Effective for mortgage insurance (MI) submissions received on or after June 10, 2013, United Guaranty's RAP® (Reporting Acceptance Program®) minimum credit score requirements for Broker TPO loans will match those for retail loans. Details are provided below.

Please Note:

RAP Minimum Credit Score Requirements for Broker TPO Loans - Effective June 10, 2013

Fixed-Rate Mortgages and ARMs Five Years or Greater NEW   PRIOR
Occupancy Transaction Type Property Type Maximum LTV/CLTV Maximum Loan Amount Minimum Credit Score Maximum DTI Minimum Credit Score
Primary Residence Purchase & R/T Refinance 1-Unit, SFD/SFA, Co-ops, Non-FL Condos 97% $417,000 680 45% 680
95% $625,500 660 660 (eligible to $417,000)
90% $625,501 –$850,000 680 Ineligible
FL Condos 90% $625,500 740 Ineligible
2-Units 95% $625,500 700 Ineligible
3-4 Units 90% $625,500 720 Ineligible
Cash-out Refinance 1-Unit, SFD/SFA, Co-ops, Non-FL Condos 
95% $625,500 720 Ineligible
Second Home Purchase & R/T Refinance 1-Unit, SFD/SFA, Co-ops, Non-FL Condos 90% $417,000 720 Ineligible
Investment Purchase & R/T Refinance 
(negative)
1-Unit, SFD/SFA, Co-ops, Non-FL Condos 85% $417,000 720 Ineligible

ARMs Less than Five Years (includes temporary interest-rate buydowns)

Fixed-Rate Mortgages and ARMs Five Years or Greater NEW   PRIOR
Occupancy Transaction Type Property Type Maximum LTV/CLTV Maximum Loan Amount> Minimum Credit Score Maximum DTI Minimum Credit Score
Primary Residence Purchase & R/T Refinance 1-Unit, SFD/SFA, Co-ops, Non-FL Condos 95% $625,500 720 45% 720 (eligible to $417,000)
2-Units 95% $625,500 740 Ineligible
3-4 Units 90% $625,500 760 Ineligible
Cash-out Refinance 1-Unit, SFD/SFA, Co-ops, Non-FL Condos 95% $625,500 760 Ineligible
Second Home Purchase & R/T Refinance 1-Unit, SFD/SFA, Co-ops, Non-FL Condos 90% $417,000 760 Ineligible
Investment Purchase & R/T Refinance (negative) 1-Unit, SFD/SFA, Co-ops, Non-FL Condos 85% $417,000 760 Ineligible

Please contact your United Guaranty Account Representative if you have any questions about this announcement. For assistance with RAP, call 877.642.4642, option 2. For technical assistance, call the United Guaranty ReadiResource Center® at 888.484.4636.

United Guaranty's RAP Underwriting Requirement Guide and RAP Quick Reference effective June 10, 2013 reflecting the above changes can be found here.

CA2013-06

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