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Article: GE Capital Mortgage Insurance Introduces Advanced Primary(TM); New Tool Developed With Fannie Mae to Provide Superior Secondary Market Execution.
- Article from:
- PR Newswire
- Article date:
- July 26, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RALEIGH, N.C., July 26 /PRNewswire/ -- GE Capital Mortgage Insurance Company today introduced Advanced Primary, a simple new mortgage insurance structure designed to improve lenders' secondary market executions while providing enhanced risk management benefits to investors.
Advanced Primary loans are originated by the lender and delivered to Fannie Mae using existing processes and normal mortgage insurance coverage and pricing. Lenders do not need to alter their origination or underwriting processes, nor do they have to modify their master policy. Further, no systems changes are necessary.
With delivery of the loans to Fannie Mae, the insurance coverage ...