Our Master Policy features our Policy Commitment Letter (PCL), which is a separate document prepared exclusively for each United Guaranty customer.
- This unique set of documents (the Master Policy, PCL, Claims Guide, and Appeals Guide) clearly defines all United Guaranty policies and practices governing underwriting, claims, and appeals.
- Updates to underwriting requirements will be sent to your home office Master Policy administrator and will be automatically merged into the PCL to provide an enduring written record.
- The PCL allows additional flexibility to enable United Guaranty to agree to operational changes. It also provides an easy-to-reference, automatically updated record of underwriting requirements and exceptions.
Some notable areas related to your Master Policy that affect the way you do business with United Guaranty:
- Applications for mortgage insurance submitted by your branch location will be insured under the current Master Policy for your home office location.
- For every loan, the Commitment and Certificate will show your home office Master Policy number and address as the Insured. The submitting branch and corresponding lender ID number will also be visible on the Commitment and Certificate.
- United Guaranty premium rates approved by the state in which your home office Master Policy is issued will be used for all applications.
Resources for Master Policy Administrators
United Guaranty uses DocuSign® to deliver and execute Master Policy related documentation. The information below explains DocuSign and provides links to our current guides and samples of our Master Policy and Independent Validation Program Endorsement.
Master Policy information you will receive through DocuSign:
- Sample Copy of United Guaranty’s Master Policy.
- Sample Copy of Master Policy Independent Validation Program Endorsement.
- United Guaranty’s Underwriting Requirements Guide.
Additional guides referenced in the Master Policy:
Customer Operations Review:
As per Private Mortgage Insurer Eligibility Requirements (PMIER) from GSEs, United Guaranty has to understand operational capabilities of our customers who are specifically requesting delegated underwriting authority and new customers in general. Completing the form below will facilitate our understanding of your operations better.
United Guaranty’s reporting requirements and formats under the new Master Policy:
Loans that are insured under the Master Policy in effect through September 30, 2014 are required to submit reporting when a loan is three months in default. Under the new Master Policy effective October 1, 2014, United Guaranty requires reporting on loans that are delinquent 60 days or more.
United Guaranty is not changing its reporting formats as part of its new Master Policy. The only reporting change implemented with the new Master Policy is the default reporting requirement of 60 days versus 90 days if the commitment is dated on or before September 30, 2014.