Top 5 cities where safety is not a question

Top 5 cities where safety is not a question

Number one shouldn't be a shocker

Where's Watt?

FHFA scorecard should be marked tardy

Rentership society? Insider trading on Russian sanctions?

What We're Reading: The Good Friday edition
W S
Lending / The Ticker

Private MIs focus on education as lenders adapt to QM world

Radian, United Guaranty offer educational seminars, resources

/ Print / Reprints /
| Share More
/ Text Size+

Lenders and servicers are not the only ones adjusting to the enactment of the qualified mortgage rule and new servicing guidelines, mortgage insurers also took it upon themselves to educate clients in the lending space over the past several months.   

The week QM went into effect, Radian (RDN) offered specialized training seminars and additional resources to help lenders comply with all of the rules attached to QM.

The firm’s educational materials include 45-minute webinars discussing how QM changes the process of attaching mortgage insurance and new QM-compliant product options, such as Radian’s lower priced product for "borrower-paid mortgage insurance."

Radian’s loan amount estimator lets lenders that plan on capping debt-to-income ratios at 43% to calculate maximum loan amounts and sales prices based on the type of MI product selected by the borrower.

Then, there’s United Guaranty, a mortgage insurance subsidiary of AIG (AIG). United Guaranty told HousingWire it has products already available to aid lenders.

The insurer's education product is called the QMI, or Qualified Mortgage Insurance, suite.  The marketed product selection includes borrower-paid monthly and refundable single premiums as well as lender-paid options.

Comments powered by Disqus