Enact Holdings, Inc. · NASDAQ:ACT
Enact — Investor Presentation (July 2021)
31 slides from Enact's investor presentation, July 2021
Slide 1: Freddie Mac COVID 19 Updates
Freddie Mac COVID 19 Updates through April 21, 2021 Bulletin 2021-15 July 2021 Genworth Mortgage Insurance Corporation and Genworth Mortgage Insurance Corporation of North Carolina ©2021 Genworth Mortgage Insurance Corporation. All rights reserved.
Slide 2: Genworth MI is now Enact
Genworth MI is now Enact We’re changing to remain focused on you. As part of our evolution, we are now known as Enact. We’re building on our trusted reputation for quality service and success with an increased focus on providing responsive solutions and insightful expertise for you. Learn more at ht
Slide 3: www.freddiemac.com
www.freddiemac.com https://sf.freddiemac.com/about/single-family/subscription-center 3
Slide 4: COVID-19 selling related frequently asked questions
https://sf.freddiemac.com/content/_assets/resources/pdf/faq/covid-19-selling-related-frequently-asked-questions.pdf 4
Slide 5: Bulletin 2020-5: Guidance Related to COVID-19
Bulletin 2020-5 Guidance Related to COVID-19 https://guide.freddiemac.com/app/guide/content/a_id/1003723 5
Slide 6: Bulletin 2021-15: Guidance Related to COVID-19
Bulletin 2021-15 Guidance Related to COVID-19 https://guide.freddiemac.com/app/guide/bulletin/2021-15 6
Slide 7: Pre-Closing Verification (PCV) Requirement - Freddie Mac
Pre-Closing Verification (PCV)Requirement- Freddie Mac Requirements for hourly, salary and commission income • PCV types may include: ▪ Verbal (VOE) ▪ Written VOE ▪ Military Leave and Earning (LES) ▪ Third-Party Employment Verification Service ▪ An e-mail Exchange from the Employer’s Work e-mail add
Slide 8: Pre-Closing Verification (PCV) Requirement - Freddie Mac
Pre-Closing Verification (PCV)Requirement- Freddie Mac Now permitted is an e-mail exchange from the independently obtained employer’s work e-mail address that includes, at a minimum, all of the following: ▪ Borrower’s name and current employment status ▪ Employer’s name ▪ Name and title of the indiv
Slide 9: Bulletin 2020-5 – 2021-6 Employment Flexibilities
Bulletin 2020-5 – 2021-6 Employment Flexibilities The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before May 17, 2020 to Mortgages with Application Received Dates Until Further Notice Credit Underwr
Slide 10: Bulletin 2020-8 – 2020-35
Bulletin 2020-8 – 2020-35 The temporary credit underwriting requirements below are effective for Mortgages with Application Received Dates on or after April 14, 2020 and remain in place for Mortgages with Application Received Dates Until Further Notice; however, Sellers are encouraged to apply these
Slide 11: Bulletin 2020-8
Bulletin 2020-8 The temporary credit underwriting requirements below are effective for Mortgages with Application Received Dates on or after April 14, 2020, and remain in place for Mortgages with Application Received Dates Until Further Notice; however, Sellers are encouraged to apply these updates
Slide 12: Bulletin 2020-8
Bulletin 2020-8 The temporary credit underwriting requirements below are effective for Mortgages with Application Received Dates on or after April 14, 2020, and remain in place for Mortgages with Application Received Dates Until Further Notice; however, Sellers are encouraged to apply these updates
Slide 13: Bulletin 2020-8/2020-35
Bulletin 2020-8/2020-35 The temporary credit underwriting requirements below are effective for Mortgages with Application Received Dates on or after April 14, 2020, and remain in place for Mortgages with Application Received Dates Until Further Notice; however, Sellers are encouraged to apply these
Slide 14: Bulletin 2020-14
Bulletin 2020-14 TEMPORARY CHANGES- Mortgage purchase eligibility The temporary requirements below are effective immediately and will remain in place until further notice. We are temporarily revising our Mortgage eligibility requirements to limit our purchase of Mortgages to those with Settlement Da
Slide 15: Bulletin 2020-17
Bulletin 2020-17 TEMPORARY PURCHASE AND REFINANCE ELIGIBILITY REQUIREMENTS FOR BORROWERS WITH EXISTING MORTGAGES These temporary requirements are effective for Mortgages with Application Received on and after June 2, 2020 and until further notice. It is encouraged to implement these requirements to
Slide 16: Bulletin 2020-17
Bulletin 2020-17 TEMPORARY PURCHASE AND REFINANCE ELIGIBILITY REQUIREMENTS FOR BORROWERS WITH EXISTING MORTGAGES These temporary requirements are effective for Mortgages with Application Received on and after June 2, 2020 and until further notice. It is encouraged to implement these requirements to
Slide 17: Bulletin 2020-17
Bulletin 2020-17 TEMPORARY PURCHASE AND REFINANCE ELIGIBILITY REQUIREMENTS FOR BORROWERS WITH EXISTING MORTGAGES These temporary requirements are effective for Mortgages with Application Received on and after June 2, 2020 and until further notice. It is encouraged to implement these requirements to
Slide 18: Bulletin 2020-19 and 2020-44
Bulletin 2020-19 and 2020-44 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Due to the pandemic’s continuing impact on businesses throughout
Slide 19: Bulletin 2020-19 and 2020-44
Bulletin 2020-19 and 2020-44 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Reviewing YTD P&L statements, business account statements and oth
Slide 20: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Establishing Stable Monthly Income The Seller must review the YTD profit and
Slide 21: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Establishing Stable Monthly Income- continued • The Seller must establish the
Slide 22: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Establishing Stable Monthly Income - continued https://guide.freddiemac.com/a
Slide 23: Bulletin 2020-19
Bulletin 2020-19 These temporary requirements are effective for Mortgages with Application Received on and after June 11, 2020 and until further notice. It is encouraged to implement these requirements to loans in process. Business Assets Loan proceeds from the SBA Payroll Protection Plan (PPP) and/
Slide 24: Bulletin 2020-44
Bulletin 2020-44 This Bulletin provides: Revisions to the previously published temporary requirements and guidance for Borrowers with qualifying income derived from self- employment https://guide.freddiemac.com/app/guide/bulletin/2020-44 24
Slide 25: Bulletin 2020-44
Bulletin 2020-44 This Bulletin provides: • Age of Tax Return Requirements • Self-employed Income guidance Note: The information in the Bulletin is guidance only; it does not contain new requirements. The existing requirement to determine income stability has not changed. The expanded guidance consis
Slide 26: Enact Rate Express
Enact Rate Express® Gomworth Mi is now Enact MIRRATES | UNDERWRITING BGUIDES | LOS CONNECTIONS | ENACT TOOLKIT | TRAINING our sLoc Anour us e’ve changed to remain focused on you. Genworth MI is now Enact. Og Rate Express Find Rates Quick Oc rcsonton fe & Training Blas °°2%* Your Knowledge LEARN NOW
Slide 27: Enact Underwriting Guidelines
Enact Underwriting Guidelines 27
Slide 28: Enact Training Resources
Enact Training Resources Enact ——— =— MIBRATES | UNDERWRITING 8 GUIDES | LOS& CONNECTIONS | ENACT TOOLKIT TRAINING We've changed to emain focused on you. Genworth MI is now Enact. fe & Training Blass 9°08" Your Knowledge LEARN NOW Underwriting Innovate Underwriting KNOW Mone 28 “Enact
Slide 29: Enact Training Resources
Enact Training Resources 29 Self-Employed Borrower Tools by Enact MI We get it, mental math is hard. That's why Enact provides a collection of dawnloadiable calculators and reference guides to help you analyze a self-employed borrower's average monthly income and expenses, Please note that these too
Slide 30: Your Enact Resources
Your Enact Resources • ActionCenter® : 800 444.5664 • Your Local Enact Regional Underwriter • Your Enact Sales Representative 30
Slide 31: Legal Disclaimer
Legal Disclaimer Enact Mortgage Insurance is happy to provide you with these training materials. While we strive for accuracy, we also know that any discussion of laws and their application to particular facts is subject to individual interpretation, change, and other uncertainties. Our training is