Freddie Mac Announces Essent as an Approved Mortgage Insurer
April 1st, 2010
Freddie Mac has updated Guide Exhibit 10 to reflect the acceptance of using Essent as an approved Mortgage Insurer.
Freddie Mac Announces Essent as an Approved Mortgage Insurer
Today we are announcing that we have approved Essent Guaranty, Inc. (Essent) as a Mortgage Insurer eligible to insure mortgages sold to Freddie Mac. Essent’s entry into the market will support greater availability of home financing for qualified borrowers with limited down payment resources.
Sell and Deliver
Effective April 1, 2010, Sellers can deliver mortgages insured by Essent through the selling system using MI code 43. We have updated
Guide Exhibit 10 to reflect that Essent is a Freddie Mac-approved Mortgage Insurer and have made the following additional changes:
- Changed Verex to Genworth Residential Mortgage Assurance Corporation.
- Changed HGIC to Genworth Home Equity Insurance Corp. of North Carolina.
- Updated the address for all Genworth firms.
We are also announcing that we will allow designated affiliates of flagship Freddie Mac-approved Mortgage Insurers to write business in certain states. Seller/Servicers should use the MI code of the flagship Freddie Mac-approved Mortgage Insurer when delivering affiliate-insured mortgages to Freddie Mac.
To view the online Announcement, please click here
About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 700 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.