United Guaranty
Through this webpage, we provide support and servicing for loans insured by United Guaranty prior to its acquisition.
UNDERWRITING SERVICING RESOURCES CONTACT US
Underwriting
This section contains links to our underwriting requirements, as well as quick reference guides and loan origination requirements, and forms.
Other UW Resources
To prevent commitments from expiring, please be sure to activate coverage before the commitment expiration date on your commitment/certificate.
To inquire about expired or canceled commitments, please email us at [email protected] or call us at 877-642-4642.
Visit our Regulatory page for more information on Qualified Mortgage (QM), PMIERs, TRID and other industry regulations.
Florida Hurricane Catastrophe Emergency Assessment — Termination Effective January 1, 2015
The State of Florida is terminating the Florida Hurricane Emergency Assessment as of January 1, 2015. The termination of the assessment applies to mortgage insurance premiums on loans for Florida properties insured by United Guaranty.
New MI Submissions: For certificates put in-force by United Guaranty on or after January 1, 2015, the assessment will no longer be charged. This applies to all premium options.
Certificates Put In Force Prior to January 1, 2015: United Guaranty is required to collect the hurricane assessment fee on all insurance certificates put in force prior to January 1, 2015.
Existing Loans with Renewals: United Guaranty is required to collect and remit the assessment on monthly premium renewals until the 2015 anniversary date of the certificate. (Florida applies the assessment on an annualized basis.) For example, the assessment will be collected with each monthly renewal premium due for a certificate issued on March 2014 through the March 2015 premium due date. This assessment will no longer be collected after the March 2015 premium and assessment have been received.
Kentucky and West Virginia
For Kentucky and West Virginia Master Policyholders, or an originator and/or servicer of Kentucky or West Virginia loans, the departments of insurance for these states require United Guaranty to collect a state premium surcharge. In Kentucky, a local tax is also collected from the insured.
A premium tax is imposed if a municipality, urban county government or county government adopts the tax. The local government sets the tax rate; the location of the property securing the loan determines the applicability of the tax. (This is subject to change; West Virginia mortgage indemnity is based on lender location.)
The premium surcharge for Kentucky is 1.8% of the insurance premium. The premium surcharge for West Virginia is .55% of the insurance premium. The surcharges apply to all insurance premiums on loans secured by mortgages on Kentucky or West Virginia properties.
The premium tax and surcharge are charged on all initial and renewal premiums. The amount due for Kentucky is listed on commitments issued for new insurance effective on or after October 1, 1990. The surcharge for West Virginia will be listed on commitments issued for new insurance effective on or after July 1, 1992. For our Premiums Due statements, renewal premiums calculated using the level method will show the pre-calculated surcharge and tax on the statement. For premiums calculated using the declining loan amount, servicers must apply the surcharge and tax rates to the calculated premium to determine the amount due.
Servicing
- Arch MI Servicing Reference Manual
- Forms
- Borrower Third-Party Release Form
- Guidelines for Canceling Mortgage Insurance
- Instant Modification Program*
- Notice of Delinquency
- Partial Release/Assumption Request Form
- Servicer Third-Party Release Form
*The Instant Loan Modification form should only be used for the purpose of modifying any loan instruments that contain a reset or conversion clause, such as a balloon reset or an ARM loan with a conversion to a fixed-rate.
Please visit the Arch MI Loss Mitigation and Claims page for additional information and guidance.
- Appeals Guide
- Claims Station Guide
- Claims Guide — Effective May 15, 2021
- Claims Guide — March 1, 2020 through May 14, 2021
- Claims Guide — October 1, 2019 through February 29, 2020
- Claims Guide — July 1, 2018 through September 30, 2019
- Claims Guide — October 1, 2014 through June 30, 2018
- Claims Guide — Prior to October 1, 2014
- First-Lien Claim for Loss
- Foreclosure Document Reference by State
- Second-Lien Claim for Loss
- CAM 01/94 Master Policy Sample Copy
Please visit the Arch MI Loss Mitigation and Claims page for additional information and guidance.
- Foreclosure Bidding Instructions
- Allowable Foreclosure Fees:
- Foreclosure Timeline:
- Loan Modification: Default/Imminent Default
- Loan Workout Reporting Template FAQs
- Loan Workout Reporting Template, Definitions and Instructions
- Loss Mitigation Guide
- Loss Mitigation Summary (for presale, deed-in-lieu or HAFA approval requests)
- Loss Mitigation Third-Party Authorization and Agreement to Release
- MI Retention Solutions Program Q&A
- REO Offer Form
United Guaranty offers resources for making a change to the loan terms of an existing mortgage by modifying the note. Submission information and the request form are provided in this section.
Performing Loans
- Refi-to-Mod
- High-LTV and Enhanced Relief Refinance Programs
- Loan Modifications Guide
- Loan Modification Request Form
Non-Performing Loans
Refundable Policies
You can determine when a refund is due using the schedules listed below. You can also log in to CONNECT to view the refund amount or premium owed. Cancellations are governed — and may be limited by — the terms and conditions of the Master Policy.
The type of Refundable or Non-Refundable Premium listed on the Commitment and Certificate will determine whether a possible refund is due when the coverage is canceled.
Monthly Premiums are unique in that they are usually paid in arrears. Therefore, when coverage is canceled at loan payoff or for any other reason, it is unlikely that a refund will be due for a Monthly Premium.
Requesting Cancellation
A request for MI cancellation should be processed through CONNECT within 60 days of cancellation.
You can also request cancellation for multiple certificates at once using EDI.
Here’s what you will need to process your cancellation:
- Certificate number.
- Cancellation date.
- Reason for cancellation.
- Confirmation of the address where the refund should be sent in CONNECT.
Please note that the address set up in the system associated with your servicer ID is where the check will be mailed. If you are set up on ACH, the refund will be deposited within 5 business days of cancellation.
United Guaranty reserves the right to require documentation of the date of loan payoff.
Understanding HPA and Refunds Associated with Non-Refundable Policies
Among other notice and disclosure requirements, the Homeowners Protection Act of 1998 (HPA) requires lenders to cancel mortgage insurance and refund premium under certain circumstances. United Guaranty recognizes the importance of properly canceling mortgage insurance and refunding premium in accordance with the HPA and is providing the following information to help its MI partners with their compliance efforts.
Single Premiums
- Non-HPA Cancellations with Effective Date between July 29, 1999, and August 14, 2003
- Non-HPA Cancellations with Effective Date between August 15, 2003, and January 23, 2005
- We no longer publish the refund schedule for Non-HPA cancellations with an insurance effective date between January 24, 2005, and April 30, 2006. The refund schedule only extends five years and thus a refund would no longer apply to any Non-HPA cancellations received after April 30, 2011.
- Non-HPA Cancellations with Effective Date after April 30, 2006
- Non-HPA Cancellations — Borrower-Paid Single Refundable Effective August 12, 2013 — This refund schedule is not approved for use in AK, NY, and WA. Please select one of the other approved refund schedules according to your effective date on www.ugcorp.com.
Annual Premiums
United Guaranty recognizes the importance of properly cancelling mortgage insurance and refunding unearned premium (if any) in accordance with the Homeowners Protection Act of 1998 (HPA).
To process or request an HPA refund for borrower-paid, single-premium plans, you have multiple options, including:
Option 1: Access CONNECT’s servicing platform to view and, in some cases, update information. You will need to process the cancellation using CONNECT.
Option 2: Send an email to [email protected] with the following information:
- Borrower name
- UGC MI Certificate number
- Cancellation reason applicable to an HPA-required cancellation (Loan Paid Down, Coverage No Longer Required)
- Cancellation date.
Basis of Calculation
The basis of the HPA refund for borrower-paid, single-premium plans includes the following elements:
- HPA refunds are equal to statutory unearned premium as of the end of the month reaching 78% LTV (as defined in the HPA). As an example, when a requested cancellation date is within December, the statutory unearned premium would be as of December 31 (end of the month of termination).
- Unearned premiums are earned ratably in accordance with statutory accounting requirements at the end of each month over the expected coverage period for each certificate as homologated by the North Carolina Department of Insurance.
- The calculation of unearned premium is performed on a certificate-by-certificate basis and reflects the unique attributes of each individual loan.
- These calculations estimate the term to 78% LTV based on the estimated loan balance using the original loan amount, the original loan interest rate, and the term of the loan divided by the original value of the property securing the loan.
Resources
Our Master Policy features our Policy Commitment Letter (PCL), which is a separate document prepared exclusively for each United Guaranty customer.
- This unique set of documents (the Master Policy, PCL, Claims Guide and Appeals Guide) clearly defines all United Guaranty policies and practices governing underwriting, claims and appeals.
- Updates to underwriting requirements will be sent to your home office Master Policy administrator and will be automatically merged into the PCL to provide an enduring written record.
- The PCL allows additional flexibility to enable United Guaranty to agree to operational changes. It also provides an easy-to-reference, automatically updated record of underwriting requirements and exceptions.
Some notable areas related to your Master Policy that affect the way you do business with United Guaranty:
- Applications for mortgage insurance submitted by your branch location will be insured under the current Master Policy for your home office location.
- For every loan, the Commitment and Certificate will show your home office Master Policy number and address as the Insured. The submitting branch and corresponding lender ID number will also be visible on the Commitment and Certificate.
- United Guaranty premium rates approved by the state in which your home office Master Policy is issued will be used for all applications.
Resources for Master Policy Administrators
United Guaranty uses DocuSign® to deliver and execute Master Policy-related documentation. The information below explains DocuSign and provides links to our current guides and samples of our Master Policy and Independent Validation Program Endorsement.
Master Policy information you will receive through DocuSign:
- Sample Copy of United Guaranty’s Master Policy.
- Sample Copy of Master Policy Independent Validation Program Endorsement.
- United Guaranty’s Underwriting Requirements Guide.
Additional guides referenced in the Master Policy:
Customer Operations Review:
As per Private Mortgage Insurer Eligibility Requirements (PMIER) from GSEs, United Guaranty has to understand operational capabilities of our customers who are specifically requesting delegated underwriting authority and new customers in general. Completing the form below will better facilitate our understanding of your operations.
Additional Information:
United Guaranty’s Reporting Requirements and Formats under the New Master Policy:
Loans that are insured under the Master Policy in effect through September 30, 2014, are required to submit reporting when a loan is three months in default. Under the new Master Policy effective October 1, 2014, United Guaranty requires reporting on loans that are delinquent 60 days or more.
United Guaranty is not changing its reporting formats as part of its new Master Policy. The only reporting change implemented with the new Master Policy is the default reporting requirement of 60 days vs. 90 days if the commitment is dated on or before September 30, 2014.
For current announcements, please visit these pages:
Contact Us
Arch MI values our relationship with customers, so communication is a top priority. The Arch MI teams that support your needs are readily accessible by phone, fax or email.