Contract Services
Loan Submission Fax Number:
800-250-3503
RMIC Corporation
Republic Mortgage Insurance Company
Republic Mortgage Insurance Company of Florida
Republic Mortgage Insurance Company of North Carolina
Select all that apply:
DU/LP Validation
[Findings or Feedback provided by the originator]
Attention:
Full Package—Traditional Underwriting
Resubmission—RMIC Loan #
Fannie Mae Desktop Underwriter®
Freddie Mac Loan Prospector®
RMIC Corporation
Investor (Seller/Servicer)
Originating Company Name
Address
Select One:
City
State
Borrower Name – Last
ZIP
Retail – Must meet RMIC’s definition of Retail, page 2
Non-Retail
Address
First
MI
City
Investor Registration #
Investor Loan Program/Loan Type
Loan Close Date
State
ZIP
NMLS Loan Originator Identifier1
NMLS Loan Origination Company Identifier1
Credit Reporting Company (DU re-issue only)
Borrower Credit Reference # (DU re-issue only)
Co-Borrower Credit Reference # (DU re-issue only)
Loan Information
Estimated Value $
County
Property:
Units:
Detached
1
2
Index Value
Index Margin
3
Attached
4
Temporary Buydown:
1-0%
2-1%
3-2-1%
Other
Term:
months
%
%
Mos. to Initial Rate Change
Mos. to Subsequent Rate Chg.
Property-Type:
Single Family
PUD
Townhouse
Condo
Manufactured Home
Co-op
Other
Cap Per Initial Adjustment
Cap Per Subsequent Adj.
Lifetime Cap
%
Proposed
Existing
Under Construction
Substantially Rehabilitated
Alteration, Repair, Improvement
Other
Balloon Loan: Term
%
%
years
HELOC Maximum Credit Limit
$
Gift Funds: Amount $
Conversion Option
Potential Negative Amortization
[PNA is not available for 15-year terms or in the state of NY.]
Nontraditional Credit
Interest-Only
Program Information
Fannie Mae’s Desktop Underwriter®:
Flex 97
Community Seconds
ARM Plan Number
MyCommunity
Freddie Mac’s Loan Prospector®:
Alt 97
HomePossible
Affordable Seconds
Mortgages for Newly Construction Homes
Republic Mortgage Insurance Company
RMIC Mortgage Insurance Application (if applicable)
RMIC Master Policy #
Coverage:
FNMA/FHLMC standard coverage
Other
%
Borrower-Paid MI
Lender-Paid MI
Financed
$
(If less than entire premium)2
Contact Person
Phone #
HomeStyle
Payment Option:
ZIP® Monthly
Monthly
Annual
Single Premium
Plan Type:
Monthlies/ZIP® Monthlies
Steady Annuals
Singlemax Plus
LPMIpreferred®
A-Minus
Housing Finance Agency
Other
Premium Refund:
Renewal Type:
No Refund
Documentation Type:
Full/Alt
Doc Waiver3
Other
Lender Program Code/Name
Date
Email Address
Fax #
Signature of Insured’s Authorized Representative/Agent
Refund
Level
Outstanding Balance
Single or One Time
If applicable:
3/2 Loan
Interest Only (Period:
yrs)
Affordable Housing
Manufactured Home
X
Submission of this form constitutes a certification that the originating company has obtained signed authorization from the borrower(s) to verify information contained in the Uniform
Residential Loan Application through a credit reporting agency. Instructions and important disclosures, page 2.
RMIC Corporation Republic Mortgage Insurance Company Republic Mortgage Insurance Company of Florida Republic Mortgage Insurance Company of North Carolina
101 North Cherry Street Winston-Salem, NC 27101 800.999.RMIC (7642) www.rmic.com MM-0459 (4.09) Revised (7.10)
Contract Services
To submit loans to RMIC Contract Services, utilize one of the following
methods:
▪ RMIC ELS® (Electronic Loan Submission) at https://els.rmic.com, which you
access with your Username and Password. Follow the simple online
instructions to send loans via the Internet. Brokers and correspondents can
submit cases to RMIC for automated underwriting exactly as they do with fax
or express mail, subject to the investor’s acceptance of ELS submissions.
▪ Desktop Underwriter® and Loan Prospector® Point-of-Sale
▪ Full package Contract Underwriting Services
To submit loans for Fannie Mae’s Desktop Underwriter or Freddie Mac’s
Loan Prospector, send the following documentation:
▪ Completed RMIC Contract Services Cover Sheet with Mortgage
Insurance information
▪ Completed and signed Residential Mortgage Loan Application
(Form 1003/65)
▪ Investor Registration Forms, if required
To submit loans for RMIC’s full package Contract Underwriting Services,
send the following documentation:
▪ Completed RMIC Contract Services Cover Sheet with Mortgage
Insurance information
▪ Completed and signed Residential Mortgage Loan Application
(Form 1003/65)
▪ Credit Report
▪ Property Appraisal with photographs
▪ Income Verification
▪ Assets Verification
▪ Executed Sales Contract, if applicable
▪ AUS Findings, if applicable
▪ Additional information pertinent to the underwriting decision
Retail
In order for a loan to qualify as Retail, the same entity, with their own personnel,
must perform all of the following functions:
▪ Originate and process; and
▪ Underwrite (contract underwriting or having the loan underwritten by
the investor is permissible); and
▪ Fund and close in their own name; and
▪ Order mortgage insurance coverage under their own RMIC Master Policy.
Loans must be funded from a warehouse line in the lender’s name or using the
lender’s own funds. “Table-funded” loans are considered non-Retail loans. The
originating lender may sell or assign the closed loan to an aggregator or investor
and still be considered Retail. A correspondent who performs all of the above
functions is considered Retail.
RMIC Underwriting Review
RMIC provides an RMIC Underwriting Review to communicate the underwriting
decision, conditions required for approval, closing contingencies and applicable
comments.
Subsequent steps which may be necessary to complete the process are:
▪ Submission of supporting documentation as required
▪ Resubmission to RMIC for additional evaluations as loan terms change
during the process
1 Loan
Originator Identifiers
Effective for mortgage loan applications taken on or after July 1, 2010, the
Federal Housing Finance Agency (FHFA) requires that Fannie Mae and Freddie
Mac obtain loan-level Nationwide Mortgage Licensing System and Registry
(NMLS) identifiers for the Loan Originator, Loan Origination Company, Field
Appraiser, and Supervisory Appraiser. Both agencies have provided instructions
to seller customers for providing these identifiers (Fannie Mae Announcement
09-11 and FAQs dated February 4, 2010, Freddie Mac Bulletin 2009-27). RMIC
requests the NMLS Loan Originator and Loan Origination Company Identifiers on
loans where the originator is other than the Insured.
2 Financed
Amount
This field should be completed if a single premium plan is being used and less
than the entire premium is being financed into the loan amount. This field does
not have to be completed if the entire single premium is being financed. This field
should only be used when the Financed checkbox is checked. If the Financed
checkbox is checked and this field is blank, RMIC will assume that the entire
single premium is being financed. The financed premium amount can be
confirmed by subtracting the Base Loan Amount from the Insured Loan Amount
on the RMIC Commitment/Certificate.
3 Doc
Waiver
This box should be selected if RMIC has provided written approval of an
Automated Underwriting System or Program that does not require the
documentation of assets and/or income stated on the loan application.
Insured, by its authorized representative, represents that the information provided
to RMIC on this form and all additional documentation and information provided
to RMIC, whether prepared or submitted by the Insured, originator (if different
from Insured), borrower, appraiser or any other person or entity, is true, correct
and complete. This representation is relied upon by RMIC in insuring this loan.
WARNING: Any person who knowingly and with the intent to defraud any
insurance company or other person files an application for insurance or statement
of claim containing any materially false information, or conceals, for the purpose
of misleading, information concerning any fact material thereto, commits a
fraudulent insurance act, which is a crime and shall also be subject to a civil
penalty not to exceed five thousand dollars and the stated value of the claim for
each such violation. (Not applicable in OR and VT. Civil penalty not applicable
in KY.)
ME, TN, VA, WA: It is a crime to knowingly provide false, incomplete or
misleading information to an insurance company for the purpose of defrauding
the company. Penalties include imprisonment, fines, and denial of insurance
benefits.
LA, MA, NV: Any person who knowingly presents a false or fraudulent claim
for payment of a loss or a benefit or knowingly presents false information in
an application for insurance is guilty of a crime and may be subject to fines
and confinement in prison.
OH: Any person who, with intent to defraud or knowing that he is facilitating
a fraud against an insurer, submits an application or files a claim containing
a false or deceptive statement is guilty of insurance fraud.
FL, NH: Any person who knowingly and with intent to injure, defraud, or deceive
any insurer files a statement of claim or an application containing any false,
incomplete, or misleading information is guilty of a felony of the third degree.
D.C.: WARNING: It is a crime to provide false or misleading information
to an insurer for the purpose of defrauding the insurer or any other person.
Penalties include imprisonment and/or fines. In addition, an insurer may
deny insurance benefits if false information materially related to a claim was
provided by the applicant.
RMIC Corporation Republic Mortgage Insurance Company Republic Mortgage Insurance Company of Florida Republic Mortgage Insurance Company of North Carolina
101 North Cherry Street Winston-Salem, NC 27101 800.999.RMIC (7642) www.rmic.com MM-0459 (4.09) Revised (7.10)