Tag Archives: Genworth Mortgage Insurance Corp.

President and CEO of Genworth Mortgage Insurance and Chair of U.S. Mortgage Insurers Rohit Gupta testified on behalf of the Mortgage Insurance Industry (MI) at the House Financial Services Committee Housing and Insurance Subcommittee today stressing the need for balance between the roles of the Federal Housing Administration and MI when to comes to taxpayers.

Six of the nation’s leading active mortgage insurance (MI) companies announced Monday the formation of a new trade association: U.S. Mortgage Insurers (USMI). Founded by member companies Arch MI, Essent, Genworth MI, MGIC, National MI, and Radian Guaranty, the new organization replaces Mortgage Insurance Companies of America (MICA), which wound up operations earlier this year.

Private mortgage insurers reported issuing more policies in October than in the month prior--but dollar volume decreased over the month, according to monthly numbers released by Mortgage Insurance Companies of America (MICA). Member companies represented in the trade group's statistics reported issuing 38,908 insurance certificates for borrowers seeking to buy or refinance a home in October. At the same time, dollar volume on insurance written throughout the month totaled $8.7 billion, the lowest amount since May 2012.

Member firms of Mortgage Insurance Companies of America (MICA) reported a combined 37,501 new mortgage insurance policies issued in September, down from 46,051 in August.

According to monthly statistics released by Mortgage Insurance Companies of America (MICA), member companies issued 46,051 policies in August, down from 50,575 in July. Activity was still higher than last year, though, when members issued 43,949 policies. The drop came despite an increase in applications received in July. Meanwhile, loan performance picked up after deteriorating for four straight months, with the ratio of cures to defaults rising more than 15 percentage points to 93.6 percent.

In Virginia, Genworth announced the election of Melina E. Higgins to serve as a new independent director on the company's board.

Genworth U.S. Mortgage Insurance (USMI) and the Mortgage Bankers Association (MBA) announced Tuesday that a redesigned training curriculum for CampusMBA's CRU Specialist Designation will soon be available.

Genworth Financial, Inc., announced Wednesday that the company is strengthening the senior leadership team of its U.S. Mortgage Insurance (USMI) unit with the addition of two key executives. Paul Gomez was recently promoted to COO of USMI, and George Reichert was named chief information officer (CIO).

According to data released by Mortgage Insurance Companies of America (MICA), member companies issued 50,575 policies to start the year's second half, up from 49,666 in June and 39,192 in July 2012. Dollar volume of primary new insurance written totaled $13.0 billion, marking the fifth straight month of gains. (Despite a decline in policies issued in June, dollar volume still saw an increase to $12.3 billion). Total primary insurance in force was $413.0 billion as of the end of July, the companies reported.

June saw a decline in the number of private mortgage insurance policies issued, though dollar volume for those policies increased, according to the latest monthly report from Mortgage Insurance Companies of America (MICA). Member companies issued a combined 49,666 insurance certificates, down from 52,545 in May. June's decline was the first since February. While policies fell, dollar volume rose, jumping to nearly $12.3 billion from May's $12.0 billion.