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  • Essent Guaranty, Inc.
    is an exciting but sometimes challenging process When you re ready to take this step Essent is here to help Our mortgage insurance can make your home more affordable and allow you to purchase a home years sooner Ask your lender for more information about the benefits of Essent mortgage insurance Resources for Homeowners Freddie Mac About Homeownership FTC Money Matters HUD Buying a Home Fannie Mae The Home Buying

    Original URL path: http://mobile.essent.us/homeowners.htm (2016-02-17)
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  • Essent Guaranty, Inc.
    also known as MI or private MI is protection for lenders and mortgage investors against the possibility of loan default Typically lenders require mortgage insurance when borrowers make a down payment of less than 20 percent The premium rate charged for mortgage insurance varies with the type of mortgage insurance program offered by the lender The most common is a monthly premium that is calculated as a percentage of the total loan amount Mortgage Insurance Protects Lenders Lenders are exposed to the risk of credit loss if borrowers are not able to make their mortgage payments While mortgage loans today are underwritten to high standards including a strong emphasis on borrowers ability to afford their loans their ability can still be compromised by life events such as job loss or illness that can result in default When a loan defaults the lender can suffer a credit loss and factors such as smaller down payments will increase the risk of default and loss For this reason lenders obtain mortgage insurance to protect against that risk Mortgage insurance covers a portion of the lender s exposure on the loan and allows lenders to offer mortgage loans at competitive interest rates with the

    Original URL path: http://mobile.essent.us/what-is-private-mi.htm (2016-02-17)
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  • Essent Guaranty, Inc.
    20 percent of the home price for a down payment can be the most significant barrier to buying a home Private mortgage insurance MI can help you obtain a mortgage with a smaller down payment as little as 3 percent in some cases Benefits of MI include Mortgage Insurance Allows for Flexible Payment Terms One of the advantages to mortgage insurance is that it can be paid in multiple ways giving the borrower greater flexibility Essent offers monthly single lump sum or annual premium plans as well as lender paid mortgage insurance programs Mortgage Insurance Is Cancellable Borrower paid mortgage insurance does not last for the life of the loan in fact the insurance coverage can be cancelled when the borrower attains 20 percent equity Equity can be built by paying down the mortgage principal rising home values due to favorable market conditions or home improvements Mortgage insurance also cancels automatically when either the borrower s equity reaches 22 percent through normal amortization or the halfway point of the loan term is reached The cancellation of mortgage insurance may reduce the borrower s monthly mortgage payment or result in a refund of a portion of the mortgage insurance premium depending

    Original URL path: http://mobile.essent.us/benefits-of-mi.htm (2016-02-17)
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  • Essent Guaranty, Inc.
    Automatic Cancellation Borrower paid mortgage insurance is automatically cancelled by the mortgage servicer when the loan amount is reduced to 78 percent of the original property value or when the loan reaches its half life ex 15 years on a 30 year mortgage 2 Voluntary Cancellation Borrowers can request that mortgage insurance be cancelled when they believe that their current loan amount is 80 percent or less of their current

    Original URL path: http://mobile.essent.us/cancelling-mi.htm (2016-02-17)
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  • Essent Guaranty, Inc.
    then passed through to the borrower to be paid as part of the monthly mortgage payment Q Is it possible to cancel mortgage insurance A Yes There are two types of mortgage insurance cancellation available to borrowers 1 Automatic cancellation Borrower paid mortgage insurance is automatically cancelled by the mortgage servicer when the loan amount is reduced to 78 percent of the original property value or when the loan reaches its half life ex 15 years on a 30 year mortgage 2 Voluntary cancellation Borrowers can request that mortgage insurance be cancelled when they believe that their current loan amount is 80 percent or less of their current property value An appraisal will be required to validate the value of the property Q Is mortgage insurance MI the same as mortgage life insurance or homeowners insurance A No Mortgage insurance is different from both mortgage life insurance and homeowners insurance Mortgage life insurance generally pays off the mortgage in the event of the death of the borrower Homeowners insurance provides coverage for borrowers in the case of damage to the property caused by events such as fire or other hazards Mortgage insurance protects the lender or mortgage investor from some

    Original URL path: http://mobile.essent.us/homeowner-faq.htm (2016-02-17)
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  • Essent Guaranty, Inc.
    for mortgage insurance MI on your loan and based on a credit score or other credit report information that your lender provided to Essent one of the following occurred 1 We were unable to insure your mortgage loan 2 The price we charged your lender for MI was not the lowest available price for the loan program applicable to your loan MI companies such as Essent are required by law to provide Notices of Adverse Action to consumers in accordance with the FCRA WHAT INFORMATION IN MY CREDIT REPORT CAUSED THE MI PRICE TO BE HIGHER The credit score used by Essent to determine the MI price applicable to your loan is based on the information in your credit file at the consumer reporting agencies Credit companies do not disclose the formula behind their credit scoring models but most scores are based on a combination of several factors including your credit payment history how much money you owe the length of your credit history and other factors The Notice of Adverse Action you received from Essent includes the key factors that influenced the credit score DOES ESSENT SEND NOTICES OF ADVERSE ACTION ON BOTH BORROWER PAID AND LENDER PAID MI Essent sends a Notice of Adverse Action for both borrower paid and lender paid MI programs in which the cost of mortgage insurance is passed on in some form to the consumer WHAT IS PRIVATE MORTGAGE INSURANCE See What is Private Mortgage Insurance on Essent s website I DON T RECALL GIVING ESSENT PERMISSION TO ORDER A CREDIT REPORT ABOUT ME SO HOW DID YOU GET IT The FCRA restricts the purposes for which consumer reporting agencies may provide credit reports Under the FCRA consumer reporting agencies may provide your credit report to certain persons including creditors and insurers in

    Original URL path: http://mobile.essent.us/fcra.htm (2016-02-17)
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  • Essent Guaranty, Inc.
    Radnor PA 19087 ph 610 230 0555 fx 610 386 2396 Mortgage Insurance Operations Essent Guaranty Inc 101 South Stratford Road Suite 400 Winston Salem NC 27104 ph 336 776 3701 ph 877 673 8190 toll free CA Underwriting and Operations Essent Guaranty Inc 7700 Irvine Center Drive Suite 680 Irvine CA 92618 ph 877 673 8190 toll free Additional Contacts Business Development ph 336 776 3906 MIReady essent us Client Services ph 1 877 569 6547 fx 336 747 1219 clientservices essent us Underwriting ph 1 877 330 3535 fx 1 877 331 8311 underwriting essent us MI Ordering Customer Support ph 1 855 282 1483 essentonlinehelp essent us Loss Management ph 1 877 331 9077 lossmanagement essent us If you are a lender interested in doing business with Essent please email us at MIready essent us or call Matt Bankson at 336 776 3906 If you are a servicer with a question please call our Client Services group toll free at 1 877 569 6547 Interested in a career at Essent Contact us at careers essent us For media inquiries please contact Janice Walker at media essent us or 610 230 0556 For general inquiries about Essent contact

    Original URL path: http://mobile.essent.us/contact.htm (2016-02-17)
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  • Essent Guaranty, Inc.
    Couch Account Manager Northern TX natalie couch essent us office 610 263 8417 mobile 972 922 7638 John Cowan Account Manager KS MO john cowan essent us office 610 263 0096 mobile 816 322 7160 Kelli Cowell Regional Account Manager WA AK OR ID kelli cowell essent us office 610 230 0923 mobile 509 413 7121 Kimberly Donovan Regional Account Manager Northern IL IN MI OH KY MN WI kimberly donovan essent us office 610 230 2457 mobile 630 337 3330 Hanh Edwards Regional Account Manager CA HI hanh edwards essent us office 610 230 2445 mobile 714 943 2654 Karen Gladstone Regional Account Manager AZ UT NV CO karen gladstone essent us office 480 753 4380 mobile 602 228 6848 Ellie Hart Account Manager AZ ellie hart essent us office 610 263 0288 mobile 602 751 2215 Dawn Hooper Account Manager Eastern NC Southern VA dawn hooper essent us office 610 263 0604 mobile 919 943 8845 Patrick Kenny Regional Account Manager MA CT NH ME VT RI NY NJ PA DE MD WV North VA DC patrick kenny essent us office 610 230 0206 mobile 860 614 0034 Kim Kesting Account Manager TN kim kesting essent us office 610 263 8281 mobile 615 812 0686 Will Landess Account Manager MS AL will landess essent us office 610 263 8280 mobile 205 907 4784 Karla Martinet Regional Account Manager TX OK NM karla martinet essent us office 610 230 0133 mobile 972 658 1588 Kent McKenzie Account Manager KY OH kent mckenzie essent us office 610 230 3498 mobile 734 751 9223 Brandon Miller Account Manager NV UT brandon miller essent us office 610 263 0094 mobile 801 663 3276 Tracie Panish Account Manager Northern CA tracie panish essent us office 610 230 2397 mobile 916 517 8339 Trina

    Original URL path: http://mobile.essent.us/business-development-team.htm (2016-02-17)
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