RMIC is pleased to announce the introduction of a New Servicer Option under our Recovery Assistance Program supporting the Home Affordable Refinance Program (HARP). The New Servicer Option was developed in response to the market need for more refinance options allowing borrowers to improve the terms of their mortgage financing and reduce their monthly mortgage payment obligations.

 

On June 17, 2009, RMIC released a new 4506-T and Tax Return Transcript requirement for mortgage applications submitted on or after September 1, 2009. Based upon Lender inquiries, RMIC is providing clarification and restatement of the policy.

 

RMIC is announcing several modifications to our eligibility guidelines and providing an update to our market classifications. Additionally, RMIC is releasing an updated Mortgage Insurance Application to collect origination channel designations in support of RMIC's previously released Non-Retail guidelines.