Enact Holdings, Inc. · NASDAQ:ACT
Enact — Investor Presentation (September 2020)
61 slides from Enact's investor presentation, Sep 24, 2020
Slide 1: Freddie Mac COVID 19 Updates
Freddie Mac COVID 19 Updates Updates through September 24, 2020 Bulletin 2020-37 Customer Education Brought to you by: Genworth Customer Development and Process Consulting NOTICE: This document contains confidential, non-public company information. Further distribution of this document is strictly p
Slide 2: www.freddiemac.com
www.freddiemac.com https://sf.freddiemac.com/about/single-family/subscription-center Freddie Mac COVID 19 Updates 1
Slide 3: Freddie Mac COVID-19 resource link
https://sf.freddiemac.com/about/covid19 Freddie Mac COVID 19 Updates 2
Slide 4: Bulletin 2020-5
Bulletin 2020-5 Guidance Related to Covid-19 https://guide.freddiemac.com/app/guide/content/a_id/1003723 Freddie Mac COVID 19 Updates 3
Slide 5: Bulletin 2020-5: Credit underwriting employed income
Bulletin 2020-5 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Credit Underwriting: – Employed Income – 10-day pre-closing verification (PCV), Sellers may obtain one of the
Slide 6: Bulletin 2020-5: Continuance of income
Bulletin 2020-5 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 Underwriting: – Continuance of Income • F
Slide 7: Bulletin 2020-5: Appraisal flexibilities
Bulletin 2020-5 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Appraisal Flexibilities Include: – Temporary appraisal requirement flexibilities: Allowing exterior-o
Slide 8: Bulletin 2020-5: Appraisal flexibilities continued
Bulletin 2020-5 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages Applications Received on or before May 17, 2020 to Mortgages with Application Received Dates through October 31, 2020 Appraisal Flexibilities Include: – Apprai
Slide 9: Bulletin 2020-5: Appraisal flexibilities
Bulletin 2020-5 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Appraisal Flexibilities: Freddie Mac COVID 19 Updates 8
Slide 10: Bulletin 2020-8
Bulletin 2020-8 Guidance Related to Covid-19 https://guide.freddiemac.com/app/guide/bulletin/2020-8 Freddie Mac COVID 19 Updates 9
Slide 11: Bulletin 2020-8: Credit underwriting documentation age
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: Income types with standard requirements
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: Self-employed borrowers
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 14: Bulletin 2020-8: Stocks, options and mutual funds
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 15: Bulletin 2020-8: New construction appraisal flexibilities
Bulletin 2020-8 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020 Appraisal Flexibilities Include: – For new construction properties, where the appraisal was completed
Slide 16: Bulletin 2020-8: New construction appraisal flexibilities
Bulletin 2020-8 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020 Appraisal Flexibilities Include: – For new construction properties, where the appraisal was completed
Slide 17: Bulletin 2020-8: CHOICERenovation mortgages
Bulletin 2020-8 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Appraisal Flexibilities Include: CHOICERENOVATIONSM MORTGAGES In the event a Seller has determine
Slide 18: Bulletin 2020-8: GreenCHOICE mortgages
Bulletin 2020-8 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Flexibilities GREENCHOICE MORTGAGESSM In connection with GREENChoice MortgagesSM, Freddie Mac will pe
Slide 19: Freddie Mac Bulletin 2020-8
Freddie Mac Bulletin 2020-8 – Additional Guidance Includes: Freddie Mac COVID 19 Updates 18
Slide 20: COVID-19 Update - Bulletin 2020-11
COVID-19 Update- Bulletin 2020-11 Additional Guidance Related to Covid-19 Highlights from the Bulletin will be addressed- please review the Bulletin for complete communication https://guide.freddiemac.com/app/guide/bulletin/2020-11 Freddie Mac COVID 19 Updates 19
Slide 21: Bulletin 2020-11: Condominium project reviews
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Condominium Project Reviews: Freddie Mac is offering temporary flexibilities and guidance to assist
Slide 22: Bulletin 2020-11: Map reference field
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Appraisal Flexibilities Include: Map reference field for desktop and exterior-only appraisals Fr
Slide 23: Bulletin 2020-11: New construction appraisals
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Appraisal Flexibilities Include: Property Valuations – appraisal flexibilities for new construction
Slide 24: Bulletin 2020-11: Loan Product Advisor update
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Appraisal Flexibilities Include: Loan Product Advisor® – update to identify Freddie Mac-owned Mo
Slide 25: Bulletin 2020-11: Delivery instructions
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Appraisal Flexibilities Include: Delivery Instructions Beginning on April 13, 2020, for Mortgage
Slide 26: Bulletin 2020-11: Virtual inspections for appraisals
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Appraisal Flexibilities Include: Virtual Inspections for Appraisals Appraisers may use virtual i
Slide 27: Bulletin 2020-11: CHOICERenovation mortgages
Bulletin 2020-11 The temporary flexibilities are effective immediately for all Mortgages in process and remain in place for Mortgages with Applications Received on or before October 31, 2020. Appraisal Flexibilities Include: CHOICERenovation℠ Mortgages In connection with CHOICERenovation
Slide 28: Bulletin 2020-14
Bulletin 2020-14 This Bulletin provides: Temporary requirements related to: – Mortgage purchase eligibility – Self reporting requirements for mortgages in COVID 19 related forbearance Extension of certain previously announced temporary requirements Additional guidance and reminders including those r
Slide 29: Bulletin 2020-14: Mortgage purchase eligibility
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 S
Slide 30: Bulletin 2020-14: Furloughs and layoffs
Bulletin 2020-14 The temporary flexibilities are in effect for all Mortgages in process and remain in place for Mortgages with Applications Received Until Further Notice GUIDANCE AND REMINDERS Furloughs and layoffs Freddie Mac provides requirements for income while on temporary leave in Section 5303
Slide 31: Bulletin 2020-14: Unemployment compensation
Bulletin 2020-14 The temporary flexibilities are in effect for all Mortgages in process and remain in place for Mortgages with Applications Received Until Further Notice Unemployment compensation While we recognize that many individuals have become eligible for assistance and compensation available
Slide 32: Bulletin 2020-14: Automated income assessment
Bulletin 2020-14 The temporary flexibilities are in effect for all Mortgages in process and remain in place for Mortgages with Applications Received Until Further Notice Automated income assessment with Loan Product Advisor® using tax return data To align with the IRS federal tax filing extension, w
Slide 33: Bulletin 2020-14: Loan Product Advisor update
Bulletin 2020-14 Loan Product Advisor update to identify Freddie Mac-owned Mortgages Loan Product Advisor has been enhanced to assist Sellers with identifying if a Mortgage being refinanced is owned by Freddie Mac, effective for submissions to Loan Product Advisor on and after April 27, 2020. This e
Slide 34: Bulletin 2020-17
Bulletin 2020-17 Bulletin Highlights include: Temporary purchase and refinance eligibility requirements for borrowers with existing mortgages Update to the representation and warranty framework requirements related to mortgages subject to forbearance agreements Extension of temporary requireme
Slide 35: Bulletin 2020-17: Purchase and refinance eligibility
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 36: Bulletin 2020-17: Purchase and refinance eligibility
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 37: Bulletin 2020-17: Additional due diligence
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 38: Bulletin 2020-19
Bulletin 2020-19 Updates to COVID-19 impact on originations: Temporary requirements and guidance for self-employed income Temporary flexibilities for CHOICERenovation® Mortgages Delivery requirements for “no cash-out” refinance mortgages Data requirements for mortgages that are in COVID-19 f
Slide 39: Bulletin 2020-19: Self-employed documentation
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. Due to the pandemic’s continuing impact on businesses throughout the country,
Slide 40: Bulletin 2020-19: Reviewing YTD P&L statements
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. Reviewing YTD P&L statements, business account statements and other documenta
Slide 41: Bulletin 2020-19: Establishing stable monthly income
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 42: Bulletin 2020-19: Establishing stable monthly income continued
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 43: Bulletin 2020-19: Establishing stable monthly income continued
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/ap
Slide 44: Bulletin 2020-19: Business assets
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 45: Bulletin 2020-19: CHOICERenovation mortgages
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. SM CHOICERENOVATION MORTGAGES Mortgages sold with recourse and in forbearance
Slide 46: Bulletin 2020-19: Settlement dates after renovations
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. CHOICERENOVATIONS MORTGAGES Mortgages with Settlement Dates after completion
Slide 47: Bulletin 2020-23
Bulletin 2020-23 This Bulletin provides updates regarding certain temporary COVID-19-related requirements and flexibilities announced in previous Bulletins, including: The extension of the effective dates for previously announced temporary requirements and flexibilities The extension of the effe
Slide 48: Bulletin 2020-27
Bulletin 2020-27 This Bulletin provides updates regarding certain temporary COVID-19-related requirements and flexibilities announced in previous Bulletins, including: The extension of the effective dates for previously announced temporary requirements and flexibilities The process for verifying tha
Slide 49: Mortgages in forbearance Credit Fees in Price
Mortgages in forbearance Credit Fees in Price https://sf.freddiemac.com/articles/news/fee-assessments-for-selling-mortgages-in-covid-19-related- forbearance Freddie Mac COVID 19 Updates 48
Slide 50: Bulletin 2020-35
Bulletin 2020-35 This Bulletin provides updates regarding certain temporary COVID-19-related requirements and flexibilities announced in previous Bulletins, including: The extension of the effective dates for previously announced temporary requirements and flexibilities The extension of the effe
Slide 51: Bulletin 2020-37
Bulletin 2020-37 This Guide Bulletin announces additional exclusions from the previously announced Market Condition Credit Fee in Price. Additional updates include the following: The extension of the effective dates for previously announced temporary flexibilities The extension of the effective
Slide 52: COVID FAQ's
COVID 19 FAQ’s https://sf.freddiemac.com/content/_assets/resources/pdf/faq/covid-19-selling-related-frequently-asked- questions.pdf Freddie Mac COVID 19 Updates 51
Slide 53: Genworth Mortgage Insurance Credit Policy Announcements
Genworth Mortgage Insurance Credit Policy Announcements Genworth aligns with the GSE recent communications Freddie Mac COVID 19 Updates 52
Slide 54: Genworth Underwriting Guidelines
Genworth Underwriting Guidelines Freddie Mac COVID 19 Updates
Slide 55: Genworth Rate Express
Genworth Rate Express® Freddie Mac COVID 19 Updates
Slide 56: LOS Connections
LOS Connections Freddie Mac COVID 19 Updates
Slide 57: Training Tools and Information
Training Tools and Information Freddie Mac COVID 19 Updates
Slide 58: Training Tools and Information
Training Tools and Information Freddie Mac COVID 19 Updates 57
Slide 59: Additional MI Site Information
Additional MI Site Information Freddie Mac COVID 19 Updates
Slide 60: Your Genworth Resources
Your Genworth Resources ActionCenter®: 800 444.5664 Your Local Genworth Regional Underwriter Your Genworth Sales Representative Freddie Mac COVID 19 Updates
Slide 61: Legal Disclaimer
Legal Disclaimer Genworth 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 train
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