March 26, 2014
Take Advantage of our RAP Underwriting Requirement Changes and Clarifications due to Improved Market Conditions and Credit Quality

United Guaranty is making changes and clarifications to our underwriting requirements. Most changes expand the loans we will insure and will be effective with MI applications received on or after March 31, 2014 unless otherwise noted.

In order to bring these improvements to the market quickly, we are temporarily asking you to use this announcement and the attached detailed supplements in conjunction with our existing Underwriting Requirement Guide (the Guide) for underwriting purposes. The updated Underwriting Requirement Guides (Full-File and RAP®) and supporting documents will be provided when available (planned for the end of April) at www.ugcorp.com. You will be notified when they are available.

Highlights of changes to the Performance Premium® RAP Guide (See Supplement 1 for complete details):

These expansive changes apply to all loans regardless of whether they are underwritten by Desktop Underwriter®(DU), Loan Prospector®(LP), or manually.

Now eligible:

Changes that Align with Fannie Mae's and Freddie Mac's (the Agencies) Requirements:

Clarifications to the Guide:

Effective with MI Applications Received on or After April 28, 2014

The following clarifications are effective April 28, 2014.

Performance Premium Full-File Guide:

All changes to the Performance Premium Full-File Underwriting Requirements Guide are clarifying in nature. There are no changes to the requirements. Please see Supplement 2 for details.

If you have any questions concerning this announcement, please contact our Underwriting Customer Service team at 877.MI.CHOICE (877.642.4642) or email UGC:customerservice or your Account Executive. This and all previous announcement can be found on www.ugcorp.com > Announcements or Click Here.

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