Delegated Workout Program
Servicer Delegated Workout Program
Under this program, Enact authorizes servicers to decision most workouts for Enact-insured loans that they service. This delegation is in addition to existing delegated programs listed below as Approved Investor/Industry Delegated Programs. Program details are available in Enact’s
Servicer Delegated Workout Program Parameters document.
REQUIREMENTS
This delegation is subject to the following requirements:
- Standard workout packages and documentation are required for all borrowers liable for the mortgage.
- Borrower must be experiencing a legitimate “hardship”.
- Monthly workout reporting is required as specified by Enact.
- Servicer must meet investor guidelines for all workout approvals.
- All other guidelines as outlined in Enact’s master policy, applicable Lender Servicing Guide and the applicable Default Management Servicing and Reporting Guide.
- Periodic reviews will be conducted to determine workout program compliance.
APPROVED INVESTOR/INDUSTRY DELEGATED PROGRAMS
GSE PROGRAMS |
- Flex Modification
- Standard Modification
- Streamlined Modification
- Principal Reduction Modification
- Extend Modification
- Short Sale Program
- Deed-in-lieu Program
|
Note: For Servicer/Investor Delegated Programs that fall outside the Enact Delegated Program, submit the written program guidelines via email to
HOA@EnactMI.com for delegation consideration.
Contact Us
Contact us for information and assistance.
Mortgage Insurance discussed in this website is underwritten by Enact Mortgage Insurance Corporation or Enact Mortgage Insurance Corporation of North Carolina.