Enact Holdings, Inc. · NASDAQ:ACT
Enact — Investor Presentation (January 2021)
49 slides from Enact's investor presentation, January 2021
Slide 1: Overview of the New URLA
Overview of the New URLA Uniform Residential Loan Application January 2021 Customer Education Brought to you by: Genworth Customer Development and Process Consulting ©2021 Genworth Financial, Inc. All rights reserved. Overview of the new URLA 0
Slide 2: Review of New URLA
Review of New URLA Objective – Basic Understanding of the New URLA; – Review of the new URLA fields and application impact – Resources Overview of the new URLA 1
Slide 3: Review of New URLA
Review of New URLA Mandatory Use Date March 1, 2021 New URLA Released – Static version available – Interactive available – Spanish version available Overview of the new URLA 2
Slide 4: Fannie Mae’s URLA Page
Fannie Mae’s URLA Page https://singlefamily.fanniemae.com/delivering/uniform-mortgage-data-program/uniform-residential-loan- application Overview of the new URLA 3
Slide 5: Freddie Mac’s URLA Page
Freddie Mac’s URLA Page http://www.freddiemac.com/singlefamily/sell/ulad.html Overview of the new URLA 4
Slide 6: Timeline
Timeline https://sf.freddiemac.com/content/_assets/resources/pdf/other/urla_ulad-implementation-timeline_fre.pdf Overview of the new URLA 5
Slide 7: Overview of the new URLA
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Slide 8: Same Look and Feel
Same Look and Feel Overview of the new URLA • 7
Slide 9: Fannie Mae URLA web link
https://www.fanniemae.com/singlefamily/uniform-residential-loan-application Overview of the new URLA • 8
Slide 10: New
*New Previously in the Declarations Previously in section liability section and easily missed * * Reg B * Prohibits asking for additional info Loan detail has been moved onto the new URLA throughout the forms - Loan amount, interest rate, loan type… Overview of the new URLA • 9
Slide 11: Marital Status
Marital Status Civil Union is a legally recognized union of a same-sex couple, with rights similar to those of marriage. Domestic Partnership is a legal or personal relationship between two individuals who live together and share a common domestic life, but are neither joined by marriage nor a civil
Slide 12: New
*NEW * No Primary Housing Expense – Use only if lives with family members or have NO housing. If you own a home free and clear, mark “own”. Overview of the new URLA • 11
Slide 13: Employment/Income
Employment/Income *New * * Enter the Employer’s main number. Do NOT list the borrower’s personal work phone number that was collected in Section 1a. Overview of the new URLA • 12
Slide 14: Employment/Income
Employment/Income *New Overview of the new URLA • 13
Slide 15: Employment/Income
Employment/Income *New-applicants can browse for income type * Overview of the new URLA • 14
Slide 16: Assets and Liabilities
Assets and Liabilities *New * Do not enter gift funds in Section 2. Gifts are entered in Section 4. Overview of the new URLA 15
Slide 17: Other Assets and Credits, If Applicable
Other Assets and Credits, If Applicable * Other Credits - These may be the less common – Verify acceptability of the assets type and check to see if any program restrictions apply Overview of the new URLA 16
Slide 18: Assets and Liabilities
Assets and Liabilities *New Do not enter gift funds in Section 2. Gifts are entered in Section 4. * Overview of the new URLA 17
Slide 19: Liabilities
Liabilities *New * Real Estate liabilities are NOT entered in Section 2 they will be entered in Section 3. Overview of the new URLA • 18
Slide 20: Real Estate Owned (REO) Section
Real Estate Owned (REO) Section *New * * * * * Mortgages Previously listed in liability section Overview of the new URLA • 19
Slide 21: Loan and Property Information
Loan and Property Information *New ** * * Previously the first section of the application Overview of the new URLA • 20
Slide 22: Loan and Property Information
Loan and Property Information *New * * * Overview of the new URLA • 21
Slide 23: Declarations
Declarations *New * * * * Overview of the new URLA 22
Slide 24: Declarations
Declarations *New * * * Overview of the new URLA 23
Slide 25: Acknowledgements and Agreements
Acknowledgements and Agreements * *New Disclosure of the use of appraisal and use of electronic records and signatures Reporting of late payments to credit reporting agencies Use and sharing of a borrower’s personal information disclosed on the URLA Overview of the new URLA 24
Slide 26: Military Service
*NEW * Military Service – The length of service or service commitment, duty status and character of service determine the eligibility for specific home loan benefits. Overview of the new URLA • 25
Slide 27: Demographic Information
Demographic Information *New * * * * Overview of the new URLA 26
Slide 28: Loan Originator Information
Loan Originator Information *New * * * Overview of the new URLA • 27
Slide 29: URLA - Additional Borrower New Form
URLA - Additional Borrower New If the borrowers have separate Form financial information, a unique URLA. Note: Joint assets, liabilities, and real estate should be listed on only one application and not duplicated on more than one application. Overview of the new URLA • 28
Slide 30: Lender Loan Information New Form
Lender Loan Information New Form The Lender Loan Information now has some of the loan information fields Overview of the new URLA • 29
Slide 31: Lender Loan Information
Lender Loan Information *New * * * * * Overview of the new URLA • 30
Slide 32: Lender Loan Information
Lender Loan Information *New * * * ** * Tenancy in Common is different than Joint Tenancy, because the transfer of the property to a beneficiary in the event of an owner's death, is different. In a Joint Tenancy agreement, the title of the property is passed to the surviving owner, while in a Tenanc
Slide 33: Lender Loan Information
Lender Loan Information *New * Confirm Qualifying Rate vs. Note Rate on Adjustable Rate Programs Overview of the new URLA • 32
Slide 34: Lender Loan Information - DOT
Lender Loan Information - DOT *New * * Sub-totaled Overview of the new URLA 33
Slide 35: Unmarried Addendum New Form
Unmarried Addendum New Form Overview of the new URLA • 34
Slide 36: Continuation Sheet
Continuation Sheet Overview of the new URLA 35
Slide 37: New Optional Form
New Optional Form Voluntary Consumer Information Form – New optional form has yet to be released but will contain several of the sections that were going to be on the URLA-they will now be relocated to this new optional form. – Language Preference question & Homeownership Education & Counseling ques
Slide 38: Instructions New Form
Instructions New Form Written for the consumer Overview of the new URLA • 37
Slide 39: Updates
Updates https://singlefamily.fanniemae.com/delivering/uniform-mortgage-data-program/uniform-residential-loan-application Overview of the new URLA 38
Slide 40: FAQ’s
FAQ’s https://singlefamily.fanniemae.com/learning-center/delivering/faqs-uniform-residential-loan-application-uniform-loan- application-dataset Effectively Reviewing the New URLA 39
Slide 41: DU Release Notes Supporting URLA
DU Release Notes Supporting URLA https://singlefamily.fanniemae.com/media/24521/display Effectively Reviewing the New URLA 40
Slide 42: Genworth Underwriting Guidelines
Genworth Underwriting Guidelines Overview of the new URLA 41
Slide 43: Genworth Rate Express®
Genworth Rate Express® Overview of the new URLA 42
Slide 44: LOS Connections
LOS Connections Overview of the new URLA 43
Slide 45: Training Tools and Information
Training Tools and Information Overview of the new URLA 44
Slide 46: Training Tools and Information
Training Tools and Information Overview of the new URLA 45
Slide 47: Additional MI Site Information
Additional MI Site Information Overview of the new URLA 46
Slide 48: Your Genworth Resources
Your Genworth Resources ➢ ActionCenter®: 800 444.5664 ➢ Your Local Genworth Regional Underwriter ➢ Your Genworth Sales Representative Overview of the new URLA 47
Slide 49: 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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