Mortgage insurance rate cards

• Borrowers pay monthly as part of their mortgage payment
• We bill lender for premium due

• Borrowers can request cancellation:
  • Based on investor requirements
  • Under the Homeowners Protection Act of 1998 (HPA)
• Lenders must automatically cancel the mortgage insurance policy under HPA terms

• We provide a refundable options with a slight premium adjustment and prorate refunds
• If coverage is cancelled or terminated under the HPA, unearned premium is refunded

Borrowers pay first-year premium in full at closing.

• Borrowers pay 1/12th of the premium monthly as part of their mortgage payment
• We bill the lender annually for premium due

• Borrowers can request cancellation:
  • Based on investor requirements OR
  • Under the Homeowners Protection Act of 1998 (HPA)
• Lenders must automatically cancel the mortgage insurance policy under the terms of the Homeowners Protection Act of 1998 (HPA)

Once we've cancelled the mortgage insurance policy, the borrower's monthly mortgage payment is reduced by the monthly premium amount.

For loans insured under our refundable Annual Premium program with an initial insurance effective date:

• Prior to July 29, 1999 – We will provide refunds based on our Annual Premium Short Rate Refund Schedule.
• July 29, 1999, and after – We will provide refunds on a prorated basis
  • We base the refund on the number of days in force divided by 365 days

• Borrowers can pay the one-time, single payment at closing or finance it into the loan amount
• A third party, such as a builder or a seller, can pay the one-time, single payment at closing

• Borrowers can request cancellation:
  • Based on investor requirements OR
  • Under the Homeowners Protection Act of 1998 (HPA)
• Lenders must automatically cancel the mortgage insurance policy under the terms of the Homeowners Protection Act of 1998 (HPA)

• When we cancel a policy based on HPA requirements, we base refunds for refundable and non-refundable single premiums on our HPA refund schedules
• For refundable single premiums, if coverage is cancelled during the first 5 years for reasons other than HPA requirements, we will provide a prorated refund.
  • See Refund schedules

• Borrowers can pay the upfront premium at closing or finance it into their loan amount
• A third party, such as a builder or a seller, can pay the the up-front premium at closing

• Borrowers pay the remaining monthly premium as part of their mortgage payment
• We bill lender for premium due

• Borrowers can request cancellation:
  • Based on investor requirements OR
  • Under the Homeowners Protection Act of 1998 (HPA)
• Lenders must automatically cancel the mortgage insurance policy under the terms of the Homeowners Protection Act of 1998 (HPA)

Once we've cancelled the mortgage insurance policy, the borrower's monthly mortgage payment is reduced by the monthly premium amount.

Split premiums are non-refundable, unless coverage is cancelled or terminated under the HPA; then we base the refund on our HPA refund schedules.

• The lender or anyone other than the borrower pay a one-time, single payment at closing
• The lender cannot charge the premium separately to the borrower

• We require no premium at closing
• We bill the lender the first full month after closing; payment is due the following month and continues until the lender cancels insurance
• The lender or anyone other than the borrowers must pay the premium; the lender must not charge the borrowers separately for premium