Weekly briefing, December 9, 2024

Applies to: Conventional loans eligible for Essent mortgage insurance, where the 2025 FHFA conforming loan limits now apply.

What to review: No change is mandatory, so first review whether the higher 2025 limits ($806,500 baseline and $1,209,750 for high-cost areas), now in Essent's systems, may apply to your conventional loans that are eligible for Essent mortgage insurance. AWACS interpretation

Applies to: Conventional loans insured by Arch MI under EZ Decisioning or standard underwriting, with new higher maximum loan amounts.

What to review: No change here is mandatory, so first review the optional flexibility: Arch MI now supports higher maximum loan amounts effective immediately, and a loan with a DU Approve/Ineligible or LPA Accept/Ineligible (loan amount only) within the new maximums may be EZ Decisioning eligible if all other requirements are met. Lenders may also keep using the CA 2024-03 1-unit limits through January 5, 2025 only. AWACS interpretation

Applies to: Radian MI rate quotes and applications for 1- to 4-unit properties under One Underwrite (AUS) guidelines received on or after December 9, 2024.

What to review: No change is mandatory. Start by reviewing that, for Radian MI rate quotes and applications received on or after December 9, 2024 for 1- to 4-unit properties under One Underwrite (AUS) guidelines, the system now reflects the higher 2025 conforming and high-cost loan limits, which lets the lender offer larger loan amounts. AWACS interpretation