Take the Direct Route to Essent via LendingQB

User Tip Sheet
LendingQB
Rate Quote with Eligibility and
Delegated Submission
Current as of May 20, 2015
Take the Direct Route to Essent via LendingQB
Everything You Need is Just a “Click” Away!
Rate Quote with Eligibility and Delegated Submission
To Request a Rate Quote with Eligibility
1 Open the loan and access the Order MI
Policy screen.
1
2 Make sure the MI Provider is Essent.
The following fields will default
FIELD
2
DEFAULT VALUE
MI Premium Type
Borrower Paid
Monthly Premium
Premium Refundability
Non-Refundable
Renewal Option
No Renewals*
*If your MI Premium Type is Borrower Paid
Monthly, change Renewal Option from No
Renewals to Constant.
3
3 Complete the field for MI Coverage %.
Standard GSE coverages for a 30-year
mortgage are:
4
LTV
Coverage %
95.01%-97%
35%
90.01%-95%
30%
85.01%-90%
25%
80.01%-85%
12%
4 Choose an option for Premium at Closing
5
6
• Deferred for Deferred Monthly Premium
where borrower sends first month's MI
premium with first mortgage payment.
• Prepaid for all other options.
5 If you do not choose an option, you will
receive an Error message.
6 Click on Get MI Quote.
© 2015 Essent Guaranty, Inc., All rights reserved. | Two Radnor Corporate Center, 100 Matsonford Road, Radnor, PA 19087 | essent.us
EGI-6003.098 (05/15)
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7
The MI Quote window will appear with the
Quote Status and the Premium information.
8
7
If you are satisfied with the quote, but are
not ready to order MI, click Apply Quote to
Loan File. This will save the MI Premium
data to the loan file, and the Quote will
appear under MI Quotes on File at the
bottom of the Order MI Policy screen. The
most recent quote will be at the top.
You can also explore other premium options,
by clicking Close to return to the Order MI
Policy Screen.
8
If you are ready to Order MI, click on Apply
Quote and Order Policy.
To Submit a Delegated MI Application
You have to request a rate quote or have a
saved rate quote prior to submitting an MI
application (Order Policy).
You can submit immediately upon receiving
an MI Quote (Step 8 above), or submit at a
later time via the following steps:
• Open the loan and access the Order MI
Policy screen.
• Click on view quote to open the MI
Quote screen.
• Click on Apply Quote and Order
Policy (Step 8 above) to submit your MI
application.
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A pop-up will let you know that Essent has
received your submission. Click OK, then
click Close.
When you refresh the Order MI Policy
screen, both the MI Quote(s) and the MI
Policy Order(s) on File for the loan will be
displayed.
The MI Policy Order will indicate the
application was "Approved" or "Suspended".
If the application is suspended, a member of
the EssentCONNECT team will contact you.
Your Essent documents --Rate Quote or
MI Certificate-- are located in the EDocs
folder under Document List. If you have just
submitted and your document does not
appear in the list it may be necessary to wait
a few moments and re-open the Document
List window.
To view the document, click on view pdf.
QUESTIONS? We Are Here to Help
The EssentCONNECT team is here to assist you
and answer your questions from Monday - Friday
from 8:00 AM to 8:00 PM Eastern time. Contact
them at essentconnect@essent.us or 855-282-1483.
© 2015 Essent Guaranty, Inc., All rights reserved. | Two Radnor Corporate Center, 100 Matsonford Road, Radnor, PA 19087 | essent.us
EGI-6003.098 (05/15)
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