You can be assured that our underwriting decisions take a balanced approach to risk, backed by the local market knowledge of the seasoned underwriters assigned to your loan submissions. Get confidence of coverage that comes from a clear view of risk – regardless of who does the underwriting.
Non-Delegated Underwriting offers:
- Scalable underwriting approach ensures consistent, fast turnaround times.
- You can retain the control of selecting the underwriting approach that best aligns with your business process.
- Gain confidence of coverage and a clearer view of risk
- Reduce buybacks and rescissions
- Control loan manufacturing defects
- Please view the Non-Delegated Required Documents List
- Choose from the various loan document submissions options:
View Ways to Submit Non-Delegated Underwriting Files
Great News. Your Non-Delegated underwriting program that currently receives the protection of National MI SafeGuard®12 Month Rescission Relief is here to stay.
Starting November 1, 2015, new loans can retain the benefits of 12 month rescission relief by just including these 4 documents:
- Closing Disclosure
- Mortgage (Deed of Trust)
- Title Insurance Commitment
Continue to enjoy the National MI SafeGuard benefits:
- Coverage starting from Day 1
- Reduce your exposure to buyback risk by 2 years.
- Receive your 12 month Ironclad Rescission Relief Report highlighting your loans that are covered.
- No investigations on performing loans or initiation of an investigation after 12 timely payments
- Appraisal overstatement and borrower misrepresentation protection
To maintain your SafeGuard 12 month protection, contact your National MI Sales Advisor or Solution Center at 855.317.4NMI (4664) between 5am and 5pm PT (M-F).
Non-Delegated lenders will have 60 days from the loan closed date to submit their 4 documents in order to receive SafeGuard 12 months rescission relief. National MI will send reminders to ensure you’re covered.
Whether you choose 12 or 36 Month rescission relief, National MI is committed to bringing back confidence in the private MI industry.
If you elect Non-Delegated with 36 Month Rescission Relief, here’s an overview of our National MI Quality Control process applicable to the Closing File:
Lender Applicability and Purpose: Non-Delegated Lenders with 36 month Rescission Relief (no Independent Validation)
Non-Delegated approvals without Independent Validation are subject to 36 month rescission relief. Quality Control (QC) audits are the means by which National MI evaluates the quality of closings from Non-Delegated lenders that elect not to have their Closing Files validated. The QC confirms whether or not the lender should remain approved. Non-Delegated approvals with Closing Files audited by QC may be eligible for 12 month rescission relief (the QC audit serves as the Independent Validation) provided they fall within the tolerances established for Independent Validation.
Quality Control Methodology
Sampling will occur consistent with National MI internal risk policies and QC requirements. Our sampling requirements include:
- Random selection
- Discretionary selection
- Early Payment Defaults
Master Policy Holders (MPH) will receive a request for files via email if one or more loans have been selected for QC. The request will include the due date. File submissions should include, at a minimum, the Final Closing Disclosure, Final Signed Note, Mortgage (Deed of Trust) and Title Insurance Commitment. Submission options include system upload, disk, secure email, and other means as described in For Non-Delegated Lenders: Submission Instructions.
National MI’s QC department will share preliminary audit results via email and provide MPHs with an opportunity to respond. QC will finalize the audit findings after taking into consideration any response and additional information submitted. The final audit findings will be shared for all files included in the preliminary results.
Please contact your Sales Advisor or call Solution Center at 855.317.4NMI (4664) – Select Option 5 for Quality Control.
National MI routinely delivers decisions within 24 hours.
- Commitment to fast turnaround time
- Faster responses with no conditional approvals issued (no need for you to follow up)
- For full-file, Non-Delegated applications, we often deliver decisions averaging 8 business hours
We will contact you on every loan decision, and deliver a superior customer experience to further
build our relationship with you.