Enact Holdings, Inc. · NASDAQ:ACT

Enact — Investor Presentation (February 2019)

44 slides from Enact's investor presentation, February 2019

  1. Slide 1: Affordability Options

    Affordability Options What are the Opportunities February 2019 Genworth Mortgage Insurance Corporation ©2098 Genworth Financial, Inc. All rights reserved.

  2. Slide 2: Helping the Borrower

    Helping the Borrower Have You Explored All Of The Options That Are Best For Your Borrower? • HomeReady® – Fannie Mae’s HomeReady is designed to help lenders confidently serve today’s market of creditworthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in low-incom

  3. Slide 3: Agenda

    Agenda In Today’s Session We Will Cover ‫‏‬ Overview and Benefits for HomeReady as well as Home Possible – Let’s start with HomeReady • Website • Overview and Benefits • Quick Facts • Pricing Benefits • MI Coverage Requirements • Marketing Center/Options • Genworth benefits and tools Affordability O

  4. Slide 4: HomeReady Website

    HomeReady Website https://www.fanniemae.com/singlefamily/homeready?cmpid=sln082515 ‫‏‬ Affordability Options 4

  5. Slide 5: Benefits Fact Sheet and FAQ's

    Benefits Fact Sheet and FAQ’s Affordability Options 5

  6. Slide 6: HomeReady Product Matrix

    HomeReady Product Matrix https://www.fanniemae.com/content/fact_sheet/homeready-product-matrix.pdf Affordability Options 6

  7. Slide 7: HomeReady Quick Facts

    HomeReady Quick Facts – Low down payment with up to 97% LTV financing for home purchases – CLTV up to 105% for loans with eligible Community Seconds® – Up to *97% Refinance available – Owner occupied (allows for non-occupying co-borrowers) – 2-4 unit, manufactured homes, condos, PUD eligible – 100%

  8. Slide 8: HomeReady Quick Facts continued

    HomeReady Quick Facts continued – Simple income eligibility – Low-income census tract property: • No income limit – All other property locations • 100% of area median income – Competitive pricing over standard pricing (LLPA’s) – All LLPA waived for transactions with credit score of 680 or greater an

  9. Slide 9: Fannie Mae LLPA Differences

    Fannie Mae LLPA Differences Affordability Options 9

  10. Slide 10: Fannie Mae LLPA Differences

    Fannie Mae LLPA Differences Standard ‫‏‬ HomeReady ‫‏‬ 95% LTV- 1.25 ‫‏‬ 95% LTV- 0.0% ‫‏‬ – *$2,500 – $0 95.01-97% LTV- 1.50 ‫‏‬ 95.01-97% LTV- 0.0% ‫‏‬ – *$3,000 – $0 Example- 1 family, owner occupied, purchase, primary residence, fixed rate, non- manufactured property with a borrower underwriting

  11. Slide 11: Fannie Mae Mortgage Insurance Coverages

    Fannie Mae Mortgage Insurance Coverages Standard ‫‏‬ HomeReady ‫‏‬ 95% LTV- 30% Coverage ‫‏‬ 95% LTV- 25% Coverage ‫‏‬ – $180. monthly MI – $156.66 monthly MI 95.01-97% LTV- 35% Coverage ‫‏‬ 95.01-97% LTV- 25% Coverage ‫‏‬ – $233.33 monthly MI – $191.66 monthly MI Example- 1 family, owner occupied,

  12. Slide 12: Fannie Mae Mortgage Insurance Coverages

    Fannie Mae Mortgage Insurance Coverages Standard ‫‏‬ HomeReady ‫‏‬ 95% LTV- 30% Coverage ‫‏‬ 95% LTV- 25% Coverage ‫‏‬ – $160. monthly MI – $145.00 monthly MI 95.01-97% LTV- 35% Coverage ‫‏‬ 95.01-97% LTV- 25% Coverage ‫‏‬ – $201.67 monthly MI – $163.33 monthly MI For a loan with two borrowers, 97%

  13. Slide 13: Standard Program vs. HomeReady

    Standard Program vs. HomeReady 1 unit ‫‏‬ 95% LTV ‫‏‬ Owner Occupied ‫‏‬ $15.00 Monthly Savings Purchase ‫‏‬ *$2,500 Savings Primary Residence ‫‏‬ 97% LTV ‫‏‬ Fixed Rate ‫‏‬ $38.34 Monthly Savings @97% Non-manufactured property ‫‏‬ LTV Credit score of 680 ‫‏‬ *$3,000 Savings Loan amount is $200,000

  14. Slide 14: Income Eligibility

    Income Eligibility Use the Income Eligibility Tools to Determine Income Limitations (if any) ‫‏‬ Affordability Options 14

  15. Slide 15: Example Property Match 100% AMI

    Example Property Match 100% AMI Affordability Options 15

  16. Slide 16: Example No Income Limit

    Example No Income Limit Affordability Options 16

  17. Slide 17: Fannie Mae Marketing Center

    Fannie Mae Marketing Center Affordability Options 17

  18. Slide 18: Freddie Mac's Home Possible Mortgage

    Freddie Mac’s Home Possible Mortgage ‫‏‬ Affordability Options 18

  19. Slide 19: Home Possible Website

    Home Possible Website http://www.freddiemac.com/homepossible/ Affordability Options 19

  20. Slide 20: Updates 2018-13

    Updates 2018-13 Effective October 29, 2018 ‫‏‬ – Freddie Mac consolidated Home Possible and Home Possible Advantage into one program – Effective October 29, 2018 – Several enhancements were also made to the program Affordability Options 20

  21. Slide 21: Home Possible Overview and Benefits

    Home Possible Overview and Benefits http://www.freddiemac.com/singlefamily/factsheets/sell/pdf/home_possible_factsheet.pdf Affordability Options 21

  22. Slide 22: Home Possible FAQs

    Home Possible FAQs http://www.freddiemac.com/homepossible/home_possible_faq.html Affordability Options 22

  23. Slide 23: Current Home Possible Quick Facts

    Current Home Possible Quick Facts – Owner Occupied (Program does allow for non-occupying co- borrowers) – Purchase and no cash out refinancing – Maximum 97% LTV and 105% TLTV ratios for Home Possible with an Affordable Second® – Single Family, 2-4 unit properties, condos, manufactured homes – Borrow

  24. Slide 24: Home Possible Quick Facts

    Home Possible Quick Facts – Simple income eligibility – Low Income where median income at or below 80% of the AMI • No income limit – Low Income property locations • 100% of area median income – Easy to Use Income Eligibility Tool • Home Possible Income and Property Eligibility Tool Affordability Op

  25. Slide 25: Freddie Mac Income Limits

    Freddie Mac Income Limits Affordability Options 25

  26. Slide 26: Example 100% AMI Limit Property

    Example 100% AMI Limit Property Affordability Options 26

  27. Slide 27: Example Low Income Area

    Example Low Income Area Affordability Options 27

  28. Slide 28: Freddie Mac Credit Fees in Price

    Freddie Mac Credit Fees in Price Affordability Options 28

  29. Slide 29: Freddie Mac Credit Fees in Price

    Freddie Mac Credit Fees in Price Affordability Options 29

  30. Slide 30: Freddie Mac Credit Fees in Price

    Freddie Mac Credit Fees in Price Affordability Options 30

  31. Slide 31: Freddie Mac Credit Fees in Price Differences

    Freddie Mac Credit Fees in Price Differences Standard ‫‏‬ Home Possible ‫‏‬ ‫‏‬ 95% LTV- 1.25 95% LTV- 0.0% ‫‏‬ – *$2,500 – $0 97% LTV – 1.50 95.01-97% LTV- 0.0% ‫‏‬ -* $3,000 – $0 Example- 1 family, owner occupied, purchase, primary residence, fixed rate, non-manufactured property with a borrower u

  32. Slide 32: Mortgage Insurance Requirements

    Mortgage Insurance Requirements Affordability Options 32

  33. Slide 33: Freddie Mac Mortgage Insurance Coverages

    Freddie Mac Mortgage Insurance Coverages Standard ‫‏‬ Home Possible ‫‏‬ 95% LTV- 30% Coverage ‫‏‬ 95% LTV- 25% Coverage ‫‏‬ – $160. monthly MI – $145.00 monthly MI 95.01-97% LTV- 35% Coverage* ‫‏‬ 95.01-97% LTV- 25% Coverage ‫‏‬ – $201.67 monthly MI – $163.33 monthly MI For a loan with two borrowers

  34. Slide 34: Standard Program vs. Home Possible

    Standard Program vs. Home Possible 1 unit ‫‏‬ 95% LTV ‫‏‬ Owner Occupied ‫‏‬ $15.00 Monthly Savings Purchase ‫‏‬ *$2,500 Savings Primary Residence ‫‏‬ 97% LTV ‫‏‬ Fixed Rate ‫‏‬ 97% LTV Allowed! Non-manufactured property ‫‏‬ $38.34 Monthly Savings @97% LTV Credit score of 680 ‫‏‬ based on convention

  35. Slide 35: Freddie Mac Marketing Options

    Freddie Mac Marketing Options Affordability Options 35

  36. Slide 36: Homebuyer Education

    Homebuyer Education Genworth’s online course helps you help more borrowers! ‫‏‬ – No fees! – Self-paced learning – Mobile device friendly – Pre and Post home purchase tips and resources – Emailed Certificate to you and your borrower upon Completion – Meets the National Industry Standards for Homeown

  37. Slide 37: Genworth Underwriting Guidelines

    Genworth Underwriting Guidelines Affordability Options 37

  38. Slide 38: Genworth Rate Express

    Genworth Rate Express® Affordability Options 38

  39. Slide 39: LOS Connections

    LOS Connections Affordability Options 39

  40. Slide 40: Training Tools and Information

    Training Tools and Information Affordability Options 40

  41. Slide 41: Training Tools and Information

    Training Tools and Information Affordability Options 41

  42. Slide 42: Additional MI Site Information

    Additional MI Site Information Affordability Options 42

  43. Slide 43: Your Genworth Resources

    Your Genworth Resources ➢ ActionCenter®: 800 444.5664 ➢ Your Local Genworth Regional Underwriter ➢ Your Genworth Sales Representative Affordability Options 43

  44. Slide 44: Legal Disclaimer

    Legal Disclaimer Genworth Mortgage Insurance is happy to provide you with these training materials. While we strive for ‫‏‬ accuracy, we also know that any discussion of laws and their application to particular facts is subject to individual interpretation, change, and other uncertainties. Our train

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