MGIC Mortgage Insurance Rate Finder - Click here   Effective January 10, 2005 National City Mortgage will centralize the process of ordering and placing Private Mortgage Insurance coverage for all our channels of business, including AccuBanc Mortgage, AccuMortgage, Commonwealth United Mortgage, and Commonwealth Mid-Atlantic Mortgage. This new procedure does not apply to the loans purchased through NCM's Whole Loan Purchase (Wholesale Funded) Program. The Whole Loan Purchase process requires you as the lender to continue to order and obtain a Mortgage Insurance Certificate.   As a result of this change in process, for all loans registered on or after January 10, 2005, you will not be required to order a commitment to place private mortgage insurance coverage for any loans purchased by us.    We will make the process easy for you. You will continue to take your loan applications, quote your customer the private mortgage insurance monthly escrow payment based on the type of loan with the specific percentage of coverage required using the MI company rate cards you are currently using, and complete the required disclosures to the customer. You will then send the file to our office for underwriting, to your MI contract underwriter, or underwrite it yourself if you have delegated authority. We will handle the ordering of the MI coverage after the loan is funded. The process is that simple!   Any adjustments to your customer's mortgage payment will be made prior to the preparation and mailing of their coupon booklet. In no case will the borrower's payment for MI escrows be more than on the final disclosure signed by them at closing. For many loans, the MI payment could be less.   Thank you for your continued business. If you have any questions, please call the branch office or your team lead.