Transcription of Underwriting Guidelines - National MI
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Underwriting Guidelines - National MI
National MI TrueGuide : Underwriting Guidelines VERSION Effective: 6/1/2021. EF F EC TI V E: 6. 1. 2021 1 A S 0. 13. 02. National MI TrueGuide : Underwriting Guidelines Table of Contents COVID-19 Guidelines .. 7. Introduction .. 8. National MI TrueGuide Underwriting Philosophy ..8. Compliance with Laws and Regulations ..9. Insured Originator Approval .. 10. Delegation of Underwriting Authority .. 10. National MI AXIS Online System .. 11. GSE AUS Systems .. 11. Delegated Assurance Review (DAR) with Independent Validation .. 11. Premium Plans .. 12. Guideline Questions .. 12. Mortgage Insurance Eligibility - AUS Plus Overlays .. 13. AUS Requirements and Comprehensive Credit Assessment .. 13. DU /LPA Outcomes .. 13. Data Integrity .. 13. Documentation .. 13. Comprehensive Credit 13. General Eligibility 15. Products .. 15. Purpose .. 15. Construction to 15. Renovation Loans .. 16. Occupancy .. 16. Residency.
The process starts with the approval of insured originators and monitoring of credit performance. Credit guidelines and pricing are continuously monitored and updated when necessary as environmental conditions change. National MI’s underwriting philosophy is to determine whether a borrower qualifies for a
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