Enact Holdings, Inc. · NASDAQ:ACT
Enact — Investor Presentation (June 2020)
16 slides from Enact's investor presentation, June 2020
Slide 1: Fannie Mae and Freddie Mac Requirements for Mortgage Verification
Fannie Mae and Freddie Mac Requirements for Mortgage Verification COVID 19 Forbearance Solutions June 2020 Customer Education Brought to you by: Genworth Customer Development and Process Consulting NOTICE: This document contains confidential, non-public company information. Further distribution of t
Slide 2: Forbearance
Forbearance A law passed by Congress on March 27, 2020, requires lenders and creditors who agree to account forbearance or modified payments must treat those obligations as “current” if the consumer has trouble making a full payment during the COVID-19 crisis.iii iii.Forbearance is a period during r
Slide 3: Reinstatement
Reinstatement A reinstatement occurs when the borrower brings the delinquent loan current in one payment. This requires that all the unpaid applicable Principal, Interest, Taxes, Insurances… be paid. Customer Education: Agency Forbearance Options 2
Slide 4: Workout Options/Loss Mitigation Solution
Workout Options/Loss Mitigation Solution Options for Borrower when- The hardship has been resolved The Borrower has the financial capacity to continue making the existing contractual monthly mortgage payment and does not require a payment reduction Repayment Plan The borrower makes normal regula
Slide 5: Workout Options/Loss Mitigation Solution
Workout Options/Loss Mitigation Solution Loan Modification A written agreement between the servicer and borrower that permanently changes one or more of the original terms of the Note, such as: capitalization of delinquent (unpaid) amounts; a change in the note rate; a change in the monthly payment;
Slide 6: Workout Options
Workout Options Presale/Short Sale The borrower sells the property for an amount that is less than the total amount owed on their mortgage to avoid foreclosure. Deed-in-Lieu of Foreclosure The borrower voluntarily transfers title to and possession of the property to the investor to satisfy the mortg
Slide 7: Freddie Mac Bulletin 2020-17
Freddie Mac Bulletin 2020-17 Bulletin Highlights include: Temporary purchase and refinance eligibility requirements for borrowers with existing mortgages Update to the representation and warranty framework requirements related to mortgages subject to forbearance agreements Extension of tempora
Slide 8: Freddie Mac Bulletin 2020-17
Freddie Mac 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 requ
Slide 9: Freddie Mac Bulletin 2020-17
Freddie Mac 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 requ
Slide 10: Freddie Mac Bulletin 2020-17
Freddie Mac 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 requ
Slide 11: Fannie Mae LL-2020-03 Effective June 2, 2020 And Remains Effective Until Further Notice
Fannie Mae LL-2020-03 Effective June 2, 2020 And Remains Effective Until Further Notice Updated Policy for new Purchases and refinance transactions – Lenders must review borrower’s credit report to determine the status of all mortgage loans. In addition, lenders must apply due diligence for each mor
Slide 12: Fannie Mae LL-2020-03 Effective June 2, 2020 And Remains Effective Until Further Notice
Fannie Mae LL-2020-03 Effective June 2, 2020 And Remains Effective Until Further Notice Customer Education: Agency Forbearance Options 11
Slide 13: Genworth Underwriting Guidelines
Genworth Underwriting Guidelines Customer Education: Agency Forbearance Options
Slide 14: Genworth Rate Express®
Genworth Rate Express® Customer Education: Agency Forbearance Options
Slide 15: Your Genworth Resources
Your Genworth Resources ActionCenter®: 800 444.5664 Your Local Genworth Regional Underwriter Your Genworth Sales Representative Customer Education: Agency Forbearance Options 14
Slide 16: 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