Enact Holdings, Inc. · NASDAQ:ACT
Enact — Investor Presentation (March 2021)
57 slides from Enact's investor presentation, Mar 11, 2021
Slide 1: Freddie Mac COVID 19 Updates
Freddie Mac COVID 19 Updates Updates through March 11, 2021 Bulletin 2021-10 Customer Education Brought to you by: Genworth Customer Development and Process Consulting NOTICE: This document contains confidential, non-public company information. Further distribution of this document is strictly prohi
Slide 2: www.freddiemac.com
www.freddiemac.com https://sf.freddiemac.com/about/single-family/subscription-center Freddie Mac COVID 19 Updates 1
Slide 3: Freddie Mac COVID-19 web page
https://sf.freddiemac.com/about/covid-19 Freddie Mac COVID 19 Updates 2
Slide 4: Bulletin 2020-5
Bulletin 2020-5 Guidance Related to Covid-19 https://guide.freddiemac.com/app/guide/content/a_id/1003723 Freddie Mac COVID 19 Updates 3
Slide 5: Bulletin 2021-1
Bulletin 2021-1 Guidance Related to Covid-19 https://guide.freddiemac.com/app/guide/content/a_id/1003723 Freddie Mac COVID 19 Updates 4
Slide 6: Bulletin 2021-3
Bulletin 2021-3 Freddie Mac COVID 19 Updates 5
Slide 7: Bulletin 2021-6
Bulletin 2021-6 Guidance Related to Covid-19 https://guide.freddiemac.com/app/guide/content/a_id/1003723 Freddie Mac COVID 19 Updates 6
Slide 8: Bulletin 2021-7
Bulletin 2021-7 Guidance Related to Covid-19 https://guide.freddiemac.com/app/guide/bulletin/2021-7 Freddie Mac COVID 19 Updates 7
Slide 9: Bulletin 2021-7
Bulletin 2021-7 In Bulletin 2021-1, we extended the effective date for some previously announced temporary flexibilities for Mortgages with Application Received Dates through February 28, 2021. We are further extending the effective date for Mortgages with Application Received Dates through March 31
Slide 10: Bulletin 2021-7
Bulletin 2021-7 In Bulletin 2021-1, Freddie Mac extended the effective date for some previously announced temporary flexibilities for Mortgages with Application Received Dates through February 28, 2021. They are further extending the effective date for Mortgages with Application Received Dates throu
Slide 11: Bulletin 2021-10
Bulletin 2021-10 Guidance Related to Covid-19 https://guide.freddiemac.com/app/guide/bulletin/2021-10?utm_source=eloqua&utm_medium=email&utm_campaign=2021- 03-11_POLICY_Guide-Policy Freddie Mac COVID 19 Updates 10
Slide 12: Bulletin 2021-10
Bulletin 2021-10 In Guide Bulletin 2021-7, we extended the effective date for some previously announced temporary flexibilities for Mortgages with Application Received Dates through March 31, 2021. Temporary extension We are further extending the effective date for Mortgages with Application Receive
Slide 13: Bulletin 2020-5- 2021-10: Employment Flexibilities
Bulletin 2020-5- 2021-10 Employment Flexibilities The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Notice of discontinuance. Credit Underwriting: – Employed Income – 10-day pre
Slide 14: Bulletin 2020-5 – 2021-6: Employment Flexibilities
Bulletin 2020-5 – 2021-6 Employment Flexibilities The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before May 17, 2020 to Mortgages with Application Received Dates Until Further Notice Credit Underwr
Slide 15: Bulletin 2020-8 / 2020-35
Bulletin 2020-8 / 2020-35 The temporary credit underwriting requirements below are effective for Mortgages with Application Received Dates on or after April 14, 2020, and remain in place for Mortgages with Application Received Dates Until Further Notice; however, Sellers are encouraged to apply thes
Slide 16: Bulletin 2020-8
Bulletin 2020-8 The temporary credit underwriting requirements below are effective for Mortgages with Application Received Dates on or after April 14, 2020, and remain in place for Mortgages with Application Received Dates Until Further Notice; however, Sellers are encouraged to apply these updates
Slide 17: Bulletin 2020-8
Bulletin 2020-8 The temporary credit underwriting requirements below are effective for Mortgages with Application Received Dates on or after April 14, 2020, and remain in place for Mortgages with Application Received Dates Until Further Notice; however, Sellers are encouraged to apply these updates
Slide 18: Bulletin 2020-8/ 2020-35
Bulletin 2020-8/ 2020-35 The temporary credit underwriting requirements below are effective for Mortgages with Application Received Dates on or after April 14, 2020, and remain in place for Mortgages with Application Received Dates Until Further Notice; however, Sellers are encouraged to apply these
Slide 19: Bulletin 2020-14
Bulletin 2020-14 TEMPORARY CHANGES- Mortgage purchase eligibility The temporary requirements below are effective immediately and will remain in place until further notice. We are temporarily revising our Mortgage eligibility requirements to limit our purchase of Mortgages to those with S
Slide 20: Bulletin 2020-14
Bulletin 2020-14 The temporary flexibilities are in effect for all Mortgages in process and remain in place for Mortgages with Applications Received Until Further Notice GUIDANCE AND REMINDERS Furloughs and layoffs Freddie Mac provides requirements for income while on temporary leave in Section 5303
Slide 21: Bulletin 2020-14
Bulletin 2020-14 The temporary flexibilities are in effect for all Mortgages in process and remain in place for Mortgages with Applications Received Until Further Notice Unemployment compensation While we recognize that many individuals have become eligible for assistance and compensation available
Slide 22: Bulletin 2020-17
Bulletin 2020-17 TEMPORARY PURCHASE AND REFINANCE ELIGIBILITY REQUIREMENTS FOR BORROWERS WITH EXISTING MORTGAGES These temporary requirements are effective for Mortgages with Application Received on and after June 2, 2020 and until further notice. It is encouraged to implement these requirements to
Slide 23: Bulletin 2020-17
Bulletin 2020-17 TEMPORARY PURCHASE AND REFINANCE ELIGIBILITY REQUIREMENTS FOR BORROWERS WITH EXISTING MORTGAGES These temporary requirements are effective for Mortgages with Application Received on and after June 2, 2020 and until further notice. It is encouraged to implement these requirements to
Slide 24: Bulletin 2020-17
Bulletin 2020-17 TEMPORARY PURCHASE AND REFINANCE ELIGIBILITY REQUIREMENTS FOR BORROWERS WITH EXISTING MORTGAGES These temporary requirements are effective for Mortgages with Application Received on and after June 2, 2020 and until further notice. It is encouraged to implement these requirements to
Slide 25: Bulletin 2020-19 and 2020-44
Bulletin 2020-19 and 2020-44 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Due to the pandemic’s continuing impact on businesses throughout
Slide 26: Bulletin 2020-19 and 2020-44
Bulletin 2020-19 and 2020-44 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Reviewing YTD P&L statements, business account statements and oth
Slide 27: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Establishing Stable Monthly Income The Seller must review the YTD profit and
Slide 28: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Establishing Stable Monthly Income- continued The Seller must establish the
Slide 29: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Establishing Stable Monthly Income- continued https://guide.freddiemac.com/ap
Slide 30: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Business Assets Loan proceeds from the SBA Payroll Protection Plan (PPP) and/
Slide 31: Bulletin 2020-44
Bulletin 2020-44 This Bulletin provides: Revisions to the previously published temporary requirements and guidance for Borrowers with qualifying income derived from self-employment https://guide.freddiemac.com/app/guide/bulletin/2020-44 Freddie Mac COVID 19 Updates 30
Slide 32: Bulletin 2021-5
Bulletin 2021-5 This Bulletin announces: Age of Tax Return Requirements Self-employed Income guidance Note: The information in the Bulletin is guidance only; it does not contain new requirements. The existing requirement to determine income stability has not changed. The expanded guidance consis
Slide 33: COVID 19 Appraisal Flexibilities
COVID 19 Appraisal Flexibilities Freddie Mac COVID 19 Updates 32
Slide 34: Bulletin 2020-5/ 2021-10
Bulletin 2020-5/ 2021-10 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities Include: – Temporary appraisal requirement flexibilities: Allowing ext
Slide 35: Bulletin 2020-5
Bulletin 2020-5 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages Applications Received on or before May 17, 2020 to Mortgages with Application Received Dates through April 30, 2021. Appraisal Flexibilities Include: – Apprais
Slide 36: Bulletin 2020-5
Bulletin 2020-5 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities: Freddie Mac COVID 19 Updates 35
Slide 37: Bulletin 2020-8
Bulletin 2020-8 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities Include: – For new construction properties, where the appraisal was completed “
Slide 38: Bulletin 2020-8
Bulletin 2020-8 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities Include: – For new construction properties, where the appraisal was completed “
Slide 39: Bulletin 2020-8
Bulletin 2020-8 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021 . Appraisal Flexibilities Include: CHOICERENOVATIONSM MORTGAGES In the event a Seller has determined
Slide 40: Bulletin 2020-8
Bulletin 2020-8 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021 . Flexibilities GREENCHOICE MORTGAGESSM In connection with GREENChoice MortgagesSM, Freddie Mac will per
Slide 41: Bulletin 2020-11
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Notice of discontinuance. Condominium Project Reviews: Freddie Mac is offering temporary flexibili
Slide 42: Bulletin 2020-11
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities Include: Map reference field for desktop and exterior-only appraisals Fred
Slide 43: Bulletin 2020-11
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities Include: Property Valuations – appraisal flexibilities for new construction
Slide 44: Bulletin 2020-11
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities Include: Loan Product Advisor® – update to identify Freddie Mac-owned Mort
Slide 45: Bulletin 2020-11
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities Include: Delivery Instructions Beginning on April 13, 2020, for Mortgages
Slide 46: Bulletin 2020-11
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities Include: Virtual Inspections for Appraisals Appraisers may use virtual ins
Slide 47: Bulletin 2020-11
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before April 30, 2021. Appraisal Flexibilities Include: CHOICERenovation℠ Mortgages In connection with CHOICERenovation℠
Slide 48: Bulletin 2020-14
Bulletin 2020-14 Loan Product Advisor update to identify Freddie Mac-owned Mortgages Loan Product Advisor has been enhanced to assist Sellers with identifying if a Mortgage being refinanced is owned by Freddie Mac, effective for submissions to Loan Product Advisor on and after April 27, 2020. This e
Slide 49: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. SM CHOICERENOVATION MORTGAGES Mortgages sold with recourse and in forbearance
Slide 50: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. CHOICERENOVATIONS MORTGAGES Mortgages with Settlement Dates after completion
Slide 51: Genworth Underwriting Guidelines
Genworth Underwriting Guidelines
Slide 52: Genworth Rate Express
Genworth Rate Express® >» 4% & 800 444.5664 | 4 | Q : Genworth z=. | Mortgage Insurance GE MI MI & RATES ERWRITING & GUIDES | LOS & CONNECTIONS | GENWORTH TOOLKIT | TRAINING | OUR BLOG | ABOUT US Rate Express Rate Cards D-19 updates and resources Genworth Mortgage Insurance GenRATE MI Products About
Slide 53: Training Tools and Information
Training Tools and Information
Slide 54: Training Tools and Information
Training Tools and Information 53
Slide 55: Additional MI Site Information
Additional MI Site Information
Slide 56: Your Genworth Resources
Your Genworth Resources ActionCenter®: 800 444.5664 Your Local Genworth Regional Underwriter Your Genworth Sales Representative
Slide 57: 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