RATE GPS® AXIS Our Values Contact Us Lenders Servicers Training Tools Resources About Us Investors Home Lenders Products & Rates PRODUCTS & RATES National MI offers flexible Mortgage Insurance products offering options for borrowers that best fit their needs. National MI is excited to bring you the latest in risk-based pricing technology — Rate GPS®. National MI’s Rate GPS offers an innovative way to get very competitive rates for your borrowers. Our risk-based pricing system uses risk intelligence to deliver rates based on individual loan characteristics. It’s a more granular way of pricing based on multiple factors specific to your borrower’s situation, and will help you gain more business from well-qualified homebuyers. Get a quote now with Rate GPS Learn more about Rate GPS CLICK HERE FOR THE FLYER, FAQ AND USER GUIDE: Rate GPS Flyer Rate GPS FAQ Rate GPS Quick Start Guide BORROWER-PAID MORTGAGE INSURANCE Premiums paid by borrower Mortgage Insurance disclosed to borrower as separate and distinct line item Certain payment plans allow premium to be financed into loan amount1 May be cancellable by borrower under Homeowners Protection Act2 Monthly Advantage Premium: Borrower-Paid Single Premium: Borrower-Paid Non-Refundable Single Premium: Borrower-Paid Refundable LENDER PAID MORTGAGE INSURANCE Premiums are paid by lender Mortgage Insurance specifics not disclosed to borrower3 Lender Paid premiums are non-refundable Not cancellable by borrower under Homeowners Protection Act2 Subject to investor LTV / CLTV guidelines Homeowners Protection Act (HoPA) allows borrowers to request cancellation of mortgage insurance based on the amount still owed vs. property value, upon borrower’s cancellation request through their servicer Lender may be required to provide some form of disclosure to borrower Single Premium: Lender-Paid Non-Refundable Monthly Advantage: Lender-Paid AGENCY COVERAGE REQUIREMENTS, REFUND SCHEDULES AND RATE CARDS Agency Coverage Requirements AGENCY COVERAGE REQUIREMENTS Base LTV Fannie Mae® Standard Coverage Freddie Mac® Standard Coverage HomeReady® and HomePossible® Coverage Housing Finance Agency (HFA) Charter Coverage >20 years <=20 Years >20 Years <=20 Years >20 Years <=20 Years 95.01% to 97% 35% 35% 35% 35% 25% 25% 18% 90.01% to 95% 30 25 30 25 25 25 16 85.01% to 90% 25 12 25 12 25 12 12 85% and under 12 6 12 6 12 6 6 Fannie Mae and Freddie Mac are registered trademarks. HomeReady is a registered trademark of Fannie Mae. Home Possible is a registered trademark of Freddie Mac. Refer to the respective Agency Seller Servicer guides for coverage requirements, coverage requirements are subject to change. Please refer to your local HFA for details on coverage levels and program guidelines. Refund Schedules Traditional Rate Cards Monthly Advantage Premium, Borrower-Paid/Lender-Paid Monthly Premium – Effective 7.16.2018 * Single Premium: Borrower-Paid Non-Refundable (Fixed) – Effective 10.23.2017 Single Premium: Borrower-Paid Non-Refundable (Non-Fixed) – Effective 10.23.2017 Single Premium: Borrower-Paid Refundable (Fixed) – Updated 12.21.2017 Single Premium: Borrower-Paid Refundable (Non-Fixed) – Updated 12.21.2017 Single Premium: Lender-Paid Non-Refundable (Fixed) – Effective 1.26.2019 * Single Premium: Lender-Paid Non-Refundable (Non-Fixed) – Effective 1.26.2019 * PREMIUM PRODUCT COMPARISON Premium Comparison Borrower-Paid Monthly Borrower-Paid Single Lender Paid Monthly Lender Paid Single Lowest monthly mortgage payment • No monthly MI payment for borrowers • • • Less paperwork • • • • Faster to close • • • • Cancellable • • Non-owner occupied available • • • • Favorable loan limits • • • • Qualified Mortgage(QM) No Impact • • • Subject to investor LTV / CLTV guidelines Homeowners Protection Act (HoPA) allows borrowers to request cancellation of mortgage insurance based on the amount still owed vs. property value, upon borrower’s cancellation request through their servicer Lender may be required to provide some form of disclosure to borrower l t f ©2021 National Mortgage Insurance Corporation. All Rights Reserved. Privacy Policy FCRA Terms of Use Careers