Essent underwriting changes: summaries and effective dates

Applies to: All loans submitted to Essent for mortgage insurance rate quotes or MI coverage; VantageScore 4.0 eligibility applies to DU Approve/Eligible and LPA Accept/Eligible loans that meet Essent's updated Guideline Summaries.

What to review: First check that all Essent MI submissions name the credit score model and use one model for every borrower, with no mix of Classic FICO and VantageScore 4.0; after that, note that lenders may now use VantageScore 4.0 for Essent MI on DU Approve/Eligible or LPA Accept/Eligible loans that meet Essent's updated Guideline Summaries. AWACS interpretation

Applies to: Conventional loans insured or to be insured by Essent mortgage insurance, where the loan amount is relative to the 2026 conforming loan limits.

What to review: No mandatory changes apply; the lender may review the higher 2026 conforming loan limits ($832,750 maximum, $1,249,125 high-cost area maximum), which Essent says are effective immediately in its systems, for conventional loans insured or to be insured by Essent. AWACS interpretation

Applies to: Essent-insured conventional loans that qualify for GSE appraisal waivers or inspection-based waivers and meet Clear2Close guideline eligibility.

What to review: First review the announcement's details on how Essent aligns with the GSE appraisal waiver and inspection-based waiver expansions. No change is mandatory, so the lender may use the expanded waivers for Essent-insured conventional loans that meet Clear2Close guideline eligibility. AWACS interpretation

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