Our Underwriting Guide (UWG) provides the policy, procedures and requirements we use to evaluate loans for mortgage insurance. On a case-by-case basis, we will consider insuring loans that don’t meet requirements stated in our Guide.
We’ve organized our Guide as follows:
The following summaries highlight our most common loan programs. They do not replace our Underwriting Guide, which contains definitions and full details.
Construction-permanent loans – Excerpted from our Underwriting Guide, this piece explains your options for handling construction-permanent financing. Refer to our Guide for full details.
Special Market Underwriting Guide – We continuously monitor market conditions nationwide. At any given time, individual market conditions may require special consideration that expands or limits Underwriting Requirements we publish in our Underwriting Guide. We publish these special requirements in this guide. A loan secured in a “Special Market” is subject to these Underwriting Requirements. Special Market Underwriting Requirements are subject to change.
Condominiums and co-ops – We base project eligibility on a number of factors, including our exposure and loan performance in each project. Project eligibility is subject to change. See our Condominium Project Eligibility Checklist for Standard Loans for additional information.
FHFA conforming loan limits – The Federal Housing Finance Agency restricts Fannie Mae and Freddie Mac to purchasing single-family mortgages with origination balances below a specific amount, known as the “conforming loan limit.” This FHFA web page provides those limits by county.