Tag Archives: Genworth Mortgage Insurance Corp.

Genworth's U.S. Mortgage Insurance (USMI) unit has been recognized by the National Association of Federal Credit Unions (NAFCU) for its efforts to educate companies on mortgage origination practices.

Private mortgage insurance business saw a sharp increase for the third straight month in May, according to a monthly report from Mortgage Insurance Companies of America (MICA). Together, member companies issued 52,545 certificates on new mortgage loans totaling more than $12.0 billion in volume. The increase in volume comes as little surprise, given the rising trend in applications received over the last several months. With applications totaling 55,535 in May, activity should continue to improve.

Activity in the private mortgage insurance sector picked up in April, according to monthly statistics from Mortgage Insurance Companies of America (MICA).

Mortgage Insurance Companies of America (MICA) reported a lift in business in March, with dollar volume rising both month-over-month and year-over-year. At the same time, the number of private mortgage insurance applications received by MICA members totaled 43,278 in March, up from 36,793 in February and 32,540 in March 2012. March's application volume was the highest since last October, when MICA members reported receiving 46,045 applications.

Genworth U.S. Mortgage Insurance (USMI), a unit of Richmond-based Genworth Financial, announced a redesigned Commitment/Certificate of Insurance intended to make it easier for customers to understand information about their mortgage insurance.

Genworth U.S. Mortgage Insurance (USMI), a unit of Genworth Financial, Inc., announced it will offer 24 training classes in April to help mortgage lenders and servicers improve their efficiency and build their business.

The Consumer Financial Protection Bureau(CFPB) announced enforcement actions against four mortgage insurers who allegedly gave kickbacks to lenders in exchange for business. CFPB proposed consent orders against Genworth U.S. Mortgage Insurance Corporation (USMI), Mortgage Guaranty Insurance Corporation (MGIC), Radian Guaranty Inc., and United Guaranty Corporation (UGC) for their alleged roles in kickback arrangements. The proposed orders require the companies to pay $15.4 million in penalties to the bureau.

Genworth Financial got the go-ahead to implement its comprehensive capital plan for its mortgage insurance business. The plan has been fully implemented as of April 1, Virginia-based Genworth announced. The plan is expected to reduce Genworth Mortgage Insurance Company's (GMICO) risk-to-capital ratio by about 15 points and lower the combined risk-to-capital ratio of the U.S. mortgage insurance subsidiaries by about 10 points.

New private mortgage insurance business dipped in February, according to a monthly statistics report from Mortgage Insurance Companies of America (MICA), a trade association representing the industry. The report includes statistical data from three MICA member companies: Genworth Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, and Radian Guaranty Inc.

Private mortgage insurance dollar volume slipped month-over-month in January, according to data reported by Mortgage Insurance Companies of America (MICA). MICA member companies--Genworth Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, and Radian Guaranty Inc.--wrote $10.47 billion in primary new insurance in January, the trade association reported. That figure is down from December's reported $10.68 billion but a massive improvement over January 2012's $4.97 billion.