National MI provides rescission relief after 12 months

National Mortgage Insurance Corp. will be enhancing its master policy to include rescission relief after 12 months on every loan National MI insures for both delegated and non-delegated channels.

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From its inception, National MI has taken a different approach than other MI providers. Instead of reviewing a sample of loans long after they close, National MI reviews every 12-month rescission relief loan shortly after closing to provide a clearer view of risk. Delegated Assurance Review: Day One Coverage – upfront reviews of files

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United Guaranty has introduced SecureCert, a suite of five options that allow lenders to choose the maximum rescission relief available in the mortgage insurance (MI) industry-at no added cost. The Federal Housing Finance Agency (FHFA) is requiring all mortgage insurers to adopt new master policies, effective Oct. 1, 2014, to provide more uniform, industrywide standards for rescission relief.

National MI SafeGuard provides rescission relief for eligible loans after 12 months of timely payments made by the borrower, which is two years sooner than the industry standard of 36 months.

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Through its signature product, National MI SafeGuard, National MI is currently the only private mortgage insurer to provide lenders with rescission relief on every loan after 12 months of timely.

National MI Offers Rescission Relief After 12 Months On Every Loan Press Release. National MI Offers Rescission Relief After 12 Months On Every loan. dec 10, 2013. National MI Offers Rescission Relief After 12 Months On Every Loan.

National MI offers rescission relief after 12 months on every loan. EMERYVILLE, CA (December 10, 2013) – NMI Holdings, Inc., (NASDAQ: NMIH) the parent company of National Mortgage Insurance.

With National MI SafeGuard 12 month rescission relief, we pioneered early rescission. evidence, National MI will not initiate investigations after the rescission relief period.. Either way National MI’s terms are better than other MI providers.

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