User Tip Sheet LendingQB Rate Quote with Eligibility and Delegated Submission Current as of May 20, 2015 Take the Direct Route to Essent via LendingQB Everything You Need is Just a “Click” Away! Rate Quote with Eligibility and Delegated Submission To Request a Rate Quote with Eligibility 1 Open the loan and access the Order MI Policy screen. 1 2 Make sure the MI Provider is Essent. The following fields will default FIELD 2 DEFAULT VALUE MI Premium Type Borrower Paid Monthly Premium Premium Refundability Non-Refundable Renewal Option No Renewals* *If your MI Premium Type is Borrower Paid Monthly, change Renewal Option from No Renewals to Constant. 3 3 Complete the field for MI Coverage %. Standard GSE coverages for a 30-year mortgage are: 4 LTV Coverage % 95.01%-97% 35% 90.01%-95% 30% 85.01%-90% 25% 80.01%-85% 12% 4 Choose an option for Premium at Closing 5 6 • Deferred for Deferred Monthly Premium where borrower sends first month's MI premium with first mortgage payment. • Prepaid for all other options. 5 If you do not choose an option, you will receive an Error message. 6 Click on Get MI Quote. © 2015 Essent Guaranty, Inc., All rights reserved. | Two Radnor Corporate Center, 100 Matsonford Road, Radnor, PA 19087 | essent.us EGI-6003.098 (05/15) Page 1 of 2 7 The MI Quote window will appear with the Quote Status and the Premium information. 8 7 If you are satisfied with the quote, but are not ready to order MI, click Apply Quote to Loan File. This will save the MI Premium data to the loan file, and the Quote will appear under MI Quotes on File at the bottom of the Order MI Policy screen. The most recent quote will be at the top. You can also explore other premium options, by clicking Close to return to the Order MI Policy Screen. 8 If you are ready to Order MI, click on Apply Quote and Order Policy. To Submit a Delegated MI Application You have to request a rate quote or have a saved rate quote prior to submitting an MI application (Order Policy). You can submit immediately upon receiving an MI Quote (Step 8 above), or submit at a later time via the following steps: • Open the loan and access the Order MI Policy screen. • Click on view quote to open the MI Quote screen. • Click on Apply Quote and Order Policy (Step 8 above) to submit your MI application. 8 A pop-up will let you know that Essent has received your submission. Click OK, then click Close. When you refresh the Order MI Policy screen, both the MI Quote(s) and the MI Policy Order(s) on File for the loan will be displayed. The MI Policy Order will indicate the application was "Approved" or "Suspended". If the application is suspended, a member of the EssentCONNECT team will contact you. Your Essent documents --Rate Quote or MI Certificate-- are located in the EDocs folder under Document List. If you have just submitted and your document does not appear in the list it may be necessary to wait a few moments and re-open the Document List window. To view the document, click on view pdf. QUESTIONS? We Are Here to Help The EssentCONNECT team is here to assist you and answer your questions from Monday - Friday from 8:00 AM to 8:00 PM Eastern time. Contact them at [email protected] or 855-282-1483. © 2015 Essent Guaranty, Inc., All rights reserved. | Two Radnor Corporate Center, 100 Matsonford Road, Radnor, PA 19087 | essent.us EGI-6003.098 (05/15) Page 2 of 2
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