The following is a summary on how to input mortgage insurance into PC Lender (PCL).

In PCL, from the Mortgage Data screen, you will click the following:

Program type

o Choose the appropriate program.

C30/C20/C15 (BPMI) is borrower paid lump sum single premium

mortgage insurance in PCL.

C30/C20/C15 (Monthly MI) is borrower paying monthly mortgage

insurance.

C30/C20/C15 (LPMI) is lender paid single premium mortgage insurance.

C30 (Financed MI) is borrower financed the single premium in PCL.

Open the internet to one of the following mortgage insurance companies web site, listed

in no particular order.

o Radian

o MGIC

o United Guaranty

Choose the appropriate MI factor based upon your loan scenario.

Example: 90% LTV with a 725 credit score, 25% coverage, the

factor per MGIC’s rate card is .62%. (as of 10/17/11)

o The reasoning behind having a MI rate sheet is to confirm

that PCL is choosing the right coverage and factor per your

scenario.

If in your Mortgage Data Screen the monthly MI factor does not populate with the correct MI

amount, you will need to do the following.

In the Mortgage Data screen click the ellipses next to the “Mortgage Insurance” field; this

will open the “Mortgage Insurance Edit” screen.

o From here click the ellipses next to the “Name” field; this will open the

“Mortgage Insurance Lookup” screen.

Within the Mortgage Insurance Lookup screen, make sure that your Term, Finance

Method, Maximum LTV, Occupancy, and Payment Period are set correctly per your

scenario.

In the list showing in the Mortgage Insurance Lookup screen, select the appropriate

“Standard Monthly” which includes the factor taken from the Mortgage Insurance web

site that you selected from the previous listed web site links.

o Save your screen, then exit back to the Mortgage Data screen. Your MI should be

populating properly.

If you are doing a borrower paid lump sum (BPMI for PCL) single premium mortgage insurance

loan. You will need to do the following.

Go to one of the mortgage insurance companies web sites and choose the single premium per

your scenario. Print the rate quote provided by the MI company.

Choose C15 (BPMI), C20 (BPMI) or C30 (BPMI) code in the Mortgage Data screen in

PCL.

o Click the ellipses next to the “Mortgage Insurance” field.

o Then click the ellipses next to “Name” in the Mortgage Insurance Edit screen.

o Next to “Payment Period”, check “Single” and select the blank line within the list

of MI choices. Click ok.

o Save and close, then go to the fee screen.

o Within the fee screen, click the plus (+) button in the tool bar.

o Uncheck “Match this Loan’s Parameters” and select “Series” 900- Advances,

Select line#910 “Initial Mortgage Insurance” as a selection. Highlight it and

select “ok”.

Manually input the specific dollar amount based upon your scenario in the

fee screen.

o Save and exit.

If you are doing a lender paid single premium (LPMI) loan- choose C15 (LPMI), C20 (LPMI) or

C30 (LPMI) code in the Mortgage Data screen in PCL

o Adjust your pricing/interest rate accordingly.

o Save and exit.

If you are doing Financed MI- use C30 (Financed MI)

o 95% LTV/CLTV

o Always remember when you are doing a BPMI or LPMI to PRINT THE RATE

QOUTE FROM THE MI COMPANY WEB SITE AND INCLUDE IT IN YOUR

SUBMITTED FILE.

The program selected is C30 (Monthly MI).

As noted the Mortgage Insurance did not

populate with a monthly figure.

We’ll need to click the ellipses next to the

Mortgage Insurance field to choose the correct MI

factor.

After clicking the ellipses you will see the

following screen.

Double click the ellipses to bring up

the following Mortgage Insurance

Edit screen.

Double check and make sure the

items are matching your loan

scenario.

Select the appropriate coverage and

factor per MI companies web sites.

Select ok to close out the screen.

Your MI should populate properly in

the Mortgage Insurance field.

For BPMI and LPMI single premium,

make sure you go back to the

Mortgage Insurance Lookup screen

and select “single”.

Again, click the ok to back out to the

Mortgage Data screen.

To add the single premium for BPMI,

go to the fee screen, highlight the 900

series and hit the plus button in the

tool bar.

Uncheck “Match this Loan’s

Parameters”, and select from

the list “Initial Mortgage

Insurance”.

Select ok to save and you can

change the points or dollar

amount in the fee screen.

Double click the line item to

bring up the Fee Edit screen.

Change “Financed Fee” to “No”.

For BPMI, “Show on GFE”

remains “Yes”.

Save and exit.