United Guaranty Insights
Ensuring Flexibility and Mortgage Insurance Price Stability with TRID
By Jerry Bryant, Senior Vice President, Portfolio Management & Modeling
United Guaranty Corporation
Posted on June 16, 2015
TRID will usher in numerous changes for lenders, but you can be certain United Guaranty isn't altering the way you get an MI rate quote or other processes you're familiar with.
We have provided the pricing stability you need for TRID by enhancing both Performance Premium®1 and United Guaranty's SecureQuote®.
- Easier to Use: You can now get a rate quote using only standard industry information, as some information may be unknown at the time of application.
- Rate Stability: Once you get your initial rate, you can be certain it will not increase unless your loan changes materially (as with any private mortgage insurer).
And, unlike rate cards, with Performance Premium, even small changes that lower a loan's risk, like credit score improvements or a decrease to debt-to-income2, could lower the rate for your borrower.
Of course, as you do today, remember to refresh your rate quote when material changes occur to your loan.
What doesn't change is you can continue to rely on Performance Premium to provide borrowers who have been responsible with their credit the best MI rates based on their risk profile.
In addition, United Guaranty offers the best customer service in the industry, providing 24-hour turnaround on more than 98 percent of full-file submissions.
1 Subject to state approvals.
2 DTI ratio remains subject to United Guaranty's max DTI requirements.
As Senior Vice President of Portfolio Management & Modeling, Jerry Bryant is responsible for risk analytics, underwriting risk modeling, credit policy, and business systems integration. Bryant joined United Guaranty in 1988 and has held management and leadership positions in varying capacities, including business planning, contract underwriting, product and business development, structured products, and risk management. Bryant earned his B.A. in economics from the University of North Carolina at Chapel Hill and holds the Chartered Financial Analyst designation.
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