Enhanced Reserve Underwriting Requirements

United Guaranty is enhancing the reserve underwriting requirements for Performance Premium mortgage insurance submissions effective January 3, 2012. For a 1-unit Primary Residence on a Rate/Term Refinance, no reserves are required. (Previously, a minimum of 2 months’ PITIA reserves was required for loan amounts of $729,750 or less, and a minimum of 6 months’ PITIA reserves was required for loan amounts of $729,751–$850,000.) All other minimum reserve requirements continue to apply for purchase and cash-out refinance transactions, multiple units, and second homes and investment properties.

For United Guaranty’s complete underwriting requirements, please see the Performance Premium Underwriting Requirements Guide. See page 27 for the revised reserve requirements.