Feature Test

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Customer Type Type of Rescission Relief When Granted Master Policy Documents
Non-Delegated Property Value Upon Completion of Independent Validation (Automatic without Closing Package) Master Policy
Loan Quality 36 Months (Automatic Without Closing Package)
60 Months (Automatic without Closing Package)
Upon Completion of Quality Control Review (With Closing Package)
Upon Completion of Independent Validation (With Closing Package) Master Policy and Independent Validation Endorsement
Delegated Loan Quality/Property Value 36 Months (Automatic without Closing Package) Master Policy and Delegated Endorsement
60 Months (Automatic without Closing Package)
Upon Completion of Quality Control Review (With Closing Package)
Upon Completion of Independent Validation (With Closing Package) Master Policy
Delegated Endorsement
Independent Validation Endorsement
* Under the Independent Validation Endorsement, borrower misrepresentation and occupancy misrepresentation require that the Borrower make the first twelve monthly payments on time before rescission relief applies.