Rescission Relief: Selecting the Option That’s Best for You

October 28, 2016 / Amy Butler, Regional Vice President—Heartland Region

Rescission Relief


If you’re lucky, your closet contains a few shirts or blouses that fit just perfectly. It’s almost as if they were sewn especially for you.

Achieving a perfect fit is the driving idea behind United Guaranty’s five rescission relief options. With five choices, you can select the option that’s the most comfortable for you and your business.

SecureCert℠ provides rescission relief options for both full-file and delegated data submissions, and there are two options that come standard with our master policy coverage, which don't require any additional work from you, including:

  1. Standard Full-File Submission: Day One Protection on mortgage insurance (MI) eligibility and guidelines, 12-month rescission relief on appraisal, and 36-month rescission relief on everything during origination of the loan except first-party fraud and pattern activity.
  2. Standard Delegated Submission: 36-month rescission relief on everything during origination of the loan except first-party fraud and pattern activity.

You can also choose from three options for accelerated relief at no additional cost that do require post-close documents, including:

  1. Full-File Submission with Post-Close Review: Day One Protection on MI eligibility and guidelines and 12-month rescission relief on appraisal and everything during origination of the loan except first-party fraud and pattern activity.
  2. Delegated Submission with Post-Close Review: Day One Protection on MI eligibility and guidelines and 12-month rescission relief on appraisal and everything during origination of the loan except first-party fraud and pattern activity.
  3. Delegated Submission with Appraisal Review: 12-month rescission relief on appraisal and 36 months on everything during origination of the loan except first-party fraud and pattern activity.

With five choices, you can select the option that’s the most comfortable for you and your business.

What is Day One protection? When United Guaranty assumes responsibility for MI underwriting, you acquire rescission relief at closing. Essentially, if we make a mistake underwriting the home loan for MI, the fault falls on us. That provides a great deal of peace of mind.

Introduced in September 2014, SecureCert builds upon United Guaranty's experience with CoverEdge®, the first product in the mortgage insurance industry to provide post-close rescission relief. CoverEdge was introduced in 2011. With SecureCert, lenders can choose the maximum rescission relief available in the mortgage insurance industry.

In addition, we continue to offer the industry's best underwriting service, providing an answer on most loans in less than 24 hours.

We realize there's no one-size-fits-all rescission relief policy for every mortgage company. If you want to learn more about what sort of rescission option is best for your operations, speak with one of our representatives.

Amy Butler

Amy Butler is Regional Vice President of United Guaranty’s Heartland Region. Butler joined United Guaranty in 2001 and has progressed through the organization from Customer Service to Sales. Most recently, she was Vice President of Strategic Accounts.

Butler has been the President of the Atlanta Mortgage Bankers Association, earned many Associate of the Year awards, and recently earned the Accredited Mortgage Professional (AMP) designation. United Guaranty’s Heartland Region includes Illinois, Indiana, Michigan, Minnesota, Iowa, Nebraska, North Dakota, South Dakota, and Wisconsin.

© 2016 United Guaranty Corporation. All rights reserved. United Guaranty is a registered mark. United Guaranty is a marketing term for United Guaranty Residential Insurance Company and United Guaranty Mortgage Indemnity Company. Coverage is available through admitted company only.