RMIC is implementing a new Streamline Refinance Policy to provide as much flexibility as possible to improve borrowers' financial positions and reduce the ultimate number of home foreclosures and mortgage insurance claims. Increasing borrowers' ability to ultimately repay their home mortgages through refinancing or modifying their existing loans will help many of these borrowers avoid losing their homes. RMIC will take aggressive action to waive or modify standard underwriting guidelines for streamline refinances of existing loans insured by RMIC. Additionally, due to the continued decline of credit performance and the deteriorating housing market, RMIC is modifying its policy regarding Construction/Permanent loans. You can view the complete bulliton attached
http://www.rmic.com/ratesguides/releasenotes/Documents/Release_6.4.08.pdf
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