February 16, 2016
CA 2016-01: Introducing SwiftClose—United Guaranty's New Underwriting Requirements for Loans Underwritten with Desktop Underwriter or Loan Prospector
Effective February 16, 2016
Effective February 16, 2016, United Guaranty is introducing SwiftCloseSM, our new underwriting requirements for loans underwritten with Desktop Underwriter® (DU®) or Loan Prospector® (LP®) and receiving one of the recommendations outlined in the underwriting requirements. These changes will make it even easier for you to insure loans with United Guaranty as we more closely align with the GSE's.
Loans underwritten to the new SwiftClose requirements may be submitted full file or delegated. Please see the detailed requirements in the full customer announcement.
For loans not meeting our new SwiftClose requirements, the underwriting requirements will remain unchanged. United Guaranty will now refer to those as our "Standard Underwriting Requirements" which will be found in section 3 of the Underwriting Requirements Guide (the Guide).
The Guide, supporting documents and all systems will be updated on February 16, 2016 to reflect these changes.
© United Guaranty Corporation 2016. All rights reserved. United Guaranty is a marketing term for United Guaranty Residential Insurance Company and United Guaranty Mortgage Indemnity Company and is a registered mark. SwiftClose is a service mark. Coverage is available through admitted company only. Desktop Underwriter, DU, Desktop Originator, DO, Community Seconds, and DU Refi Plus are marks of Fannie Mae. Loan Prospector, LP, Affordable Seconds, and LP Relief Refinance are marks of Freddie Mac.