RMIC has created a resource area for program information and resources supporting the Home Affordable Modification Program (HAMP) and Home Affordable Refinance Program (HARP). This page provides up-to-date program resources and tools such as RMIC's Recovery Assistance Program eligibility parameters, frequently asked questions, submission options and forms, RMIC Contract Underwriting eligibility, and more.

 

RMIC is modifying the naming convention and definitions used to classify housing markets to reflect the relative strength of multiple economic factors that influence the performance of its insured loans. Additionally, RMIC has updated its Market Classification list for the third quarter. RMIC is also announcing an expansion to its maximum DTI ratio to 45%, an adjustment to maximum seller contributions in certain markets, and a restriction on second homes to borrowers with a previous foreclosure. Finally, RMIC is providing a reminder that the Easy IQ2 program will be retired at the end of this month.

 

Quick Reference Underwriting Guidelines — Effective July 15, 2010

Premium Rates Brochure — Effective July 15, 2010

RMIC is providing an update to our market classifications, announcing the retirement date for our Easy IQ2 submission method, introducing two NMLS identifiers on our mortgage insurance application forms and ELS, modifying our HARP eligibility guidelines, and reiterating our policy regarding condominium conversions.