Enact Holdings, Inc. · NASDAQ:ACT
Enact — Investor Presentation (November 2020)
25 slides from Enact's investor presentation, November 2020
Slide 1: Top Tips from Best Practices in Loan Processing
Top Tips from Best Practices in Loan Processing November 2020 Customer Education Brought to you by: Genworth Customer Development and Process Consulting ©2020 Genworth Financial, Inc. All rights reserved. 0
Slide 2: Objective
Objective Review our top tips from Genworth’s Practices In Loan Processing Top Tips from Best Practices in Loan Processing 1
Slide 3: Fannie Mae COVID-19 Resources
Fannie Mae COVID-19 Resources Fannie Mae Updates, FAQs, Fannie Mae’s COVID 19 webpage https://www.fanniemae.com/here-help-single-family?_ga=2.180124900.1316512315.1605534079-1279158741.1597852529#lenders
Slide 4: Fannie Mae COVID-19 Resources
Fannie Mae COVID-19 Resources FAQs https://singlefamily.fanniemae.com/media/22326/display
Slide 5: Freddie Mac COVID-19 Resources
Freddie Mac COVID-19 Resources https://sf.freddiemac.com/about/covid-19 Top Tips from Best Practices in Loan Processing
Slide 6: Findings And Feedback Messages
Findings And Feedback Messages – Make sure you understand all guidelines that apply especially during the COVID-19 pandemic Specific Asset And Reserve Messages Have Not Been Updated With COVID-19 Policies Top Tips from Best Practices in Loan Processing 5
Slide 7: Take a Quality Loan Application
Take a Quality Loan Application Use Of The New Uniform Residential Loan Application Or URLA Is Mandatory March 1, 2021 Top Tips from Best Practices in Loan Processing 6
Slide 8: Take a Quality Loan Application
Take a Quality Loan Application Review Entire URLA – Ask detailed questions – Look at documents provided and compare to URLA – Take notes for the Processor or Underwriter if needed – POS applications you want accurate information on the URLA as you are using this “stated” information to submit to yo
Slide 9: Review Income Sources and Documentation
Review Income Sources and Documentation Review and compare the URLA/1003 – Understand how someone is paid, bi-weekly, semi-monthly, hourly rate, how many hours per week and the type of compensation – Have an applicant explain their paystub, if needed Top Tips from Best Practices in Loan Processing 8
Slide 10: Carefully Assess Funds Available for Closing
Carefully Assess Funds Available for Closing Confirm Sufficient Assets – Review total assets listed/disclosed on URLA with total funds to be verified per AUS – Did you verify sufficient funds? – If not, contact borrower for source of additional funds. Where will they come from…gift? Top Tips from Be
Slide 11: Asset Documentation Review
Asset Documentation Review When Reviewing Bank Statements, Look for the Following: – The bank statement: is the borrower’s name, account #, and address consistent with 1003? – Verify statement includes an account number (it can be truncated to four digits) – Did the applicant provide the most recent
Slide 12: Read and Understand Your AUS Results
Read and Understand Your AUS Results Top Tips from Best Practices in Loan Processing 11
Slide 13: Read and Understand Your AUS Results
Read and Understand Your AUS Results Potential Red Flag Messages: – Social Security alerts – Valuation concerns Top Tips from Best Practices in Loan Processing 12
Slide 14: Fannie Mae Job Aids/FAQs
Fannie Mae Job Aids/FAQs https://singlefamily.fanniemae.com/learning-center/originating-and-underwriting Top Tips from Best Practices in Loan Processing 13
Slide 15: Freddie Mac LPA resources fact sheet link
https://sf.freddiemac.com/content/_assets/resources/pdf/fact-sheet/lpa_resources.pdf Top Tips from Best Practices in Loan Processing 14
Slide 16: Documentation and Rental Income Matrix
Documentation and Rental Income Matrix – Documentation Matrix Updated November 2020 – Rental Income Matrix Updated July 2020 https://sf.freddiemac.com/content/_assets/resources/pdf/update/docmatrix.pdf https://sf.freddiemac.com/content/_assets/resources/pdf/update/rental.pdf Top Tips from Best Pract
Slide 17: Genworth Underwriting Guidelines
Genworth Underwriting Guidelines Top Tips from Best Practices in Loan Processing 16
Slide 18: Genworth Underwriting Guidelines
Genworth Underwriting Guidelines Top Tips from Best Practices in Loan Processing 17
Slide 19: Genworth Rate Express
Genworth Rate Express® Top Tips from Best Practices in Loan Processing 18
Slide 20: LOS Connections
LOS Connections Top Tips from Best Practices in Loan Processing 19
Slide 21: Training Tools and Information
Training Tools and Information Top Tips from Best Practices in Loan Processing 20
Slide 22: Training Tools and Information
Training Tools and Information Top Tips from Best Practices in Loan Processing 21
Slide 23: Additional MI Site Information
Additional MI Site Information Top Tips from Best Practices in Loan Processing 22
Slide 24: Your Genworth Resources
Your Genworth Resources ➢ ActionCenter®: 800 444.5664 ➢ Your Local Genworth Regional Underwriter ➢ Your Genworth Sales Representative Top Tips from Best Practices in Loan Processing 23
Slide 25: 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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