New post-close review options build on pioneering CoverEdge
rescission relief product introduced by United Guaranty in 2011.
SecureCert builds upon United Guaranty’s experience with CoverEdge,® the first product in the MI industry that provided post-close rescission relief. CoverEdge was introduced in 2011. Today, SecureCert provides comprehensive rescission relief—except in instances of first-party fraud. Also, with its Day One Protection options, United Guaranty assumes responsibility for MI underwriting mistakes when it reviews loan documents.
Added Protection with SecureCert
SecureCert offers two options that provide rescission relief at 36 months and three options that accelerate rescission relief from 36 months to 12 months with the submission of additional documents.
“United Guaranty has remained unmatched in the MI industry in the three years since we introduced post-close rescission relief, which provided our customers with added certainty and peace of mind,” said
SecureCert provides rescission relief options for both full-file and delegated data submissions (RAP®) to offer each lender the flexibility to select the best option for their business. Lenders can choose from two options that don’t require post-closing submission of additional documents:
1. Standard Full-File Submission: Day One Protection on loan
eligibility and MI guidelines, 12-month rescission relief on appraisal,
and 36-month rescission relief on everything during origination but
2. Standard Delegated Submission: 36-month rescission relief on
everything during origination but first-party fraud.
The three options for accelerated relief are:
1. Full-File Submission with Post-Close Review: Day One
Protection on loan eligibility and MI guidelines, and 12-month
rescission relief on appraisal and everything during origination but
2. Delegated with Post-Close Review: Day One Protection on loan
eligibility and MI guidelines, and 12-month rescission relief on
appraisal and everything during origination but first-party fraud.
3. Delegated with Appraisal Review: 12-month rescission relief on
appraisal and 36 months on everything during origination but first-party
More information is available at United Guaranty’s SecureCert Web page.
About United Guaranty2
1 To be eligible for certain rescission relief options, an insured loan must have no more than two loan payments that were 30 days delinquent and no loan payment that has been more than 60 days delinquent; all loan payments must be made from the borrower’s own funds; and no loan modifications made during the relevant time frame. Applies to all MI applications submitted on or after
2 United Guaranty is a marketing term for
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