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Tag Archives: Genworth Mortgage Insurance Corp.

MICA Reports Fewer Policies, Greater Dollar Volume in December

Private mortgage insurance activity saw a slight lift in December, according to Mortgage Insurance Companies of America's (MICA) monthly statistical report. Member companies wrote a combined $10.7 billion in primary new insurance on conventional loans in December, up from a reported $10.4 billion in November. Primary insurance in force was nearly $400.7 billion at the end of the year, with December marking the seventh consecutive month of increases.

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Mortgage Insurance Shows Renewed Strength in October

After experiencing a one-month lull, mortgage insurance activity picked up in October. According to data from Mortgage Insurance Companies of America (MICA), member companies wrote 42,833 insurance policies in October. In dollar volume, members reported $11.5 billion in insurance written throughout the month. October's volume was a significant step up from September, which saw 37,554 policies totaling $10.1 billion. A year ago, member companies reported 26,293 policies written for $5.1 billion.

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Insurers Release Quarterly Data on Modification, Refinance Activity

Mortgage Insurance Companies of America (MICA), an association of private mortgage insurers, reported Monday that since 2009, its members have insured $86.9 billion in mortgages modified or refinanced through the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP) as well as in mortgages modified through other means. During the third quarter of 2012, the dollar volume of insurance written by MICA members reached nearly $11.6 billion, up 62 percent year-over-year.

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Private Insurance Activity Turns Down in September

New private mortgage insurance hit a roadblock in September, according to Mortgage Insurance Companies of America's (MICA) monthly statistical report. MICA's member companies--Genworth Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, and Radian Guaranty Inc.--reported more than $398.6 billion in primary insurance in force for the month. That volume is up from August's $397.5 billion. While insurance in force increased, new insurance slowed down.

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Mortgage Insurers to Allow Short Sales, Deeds-in-Lieu Without Approval

Fannie Mae and Freddie Mac servicers will be able to skip a step when attempting to get a short sale or deed-in-lieu of foreclosure approved. On Wednesday, the GSEs announced standard delegation agreements were reached with nine mortgage insurers to allow servicers to complete short sales and deeds-in-lieu without seeking approval from the mortgage insurer. The agreement takes effect November 1. The short sale or deed-in-lieu still has to meet the GSEs' requirements, but servicers don't have to wait for mortgage insurers to offer their stamp of approval.

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MICA Reports Continued Increases in Private Insurance

The number of borrowers using private mortgage insurance (MI) continues to climb, according to the latest monthly statistical release from Mortgage Insurance Companies of America (MICA). MICA's member companies - which include Genworth US Mortgage Insurance, Mortgage Guaranty Insurance, and Radian Guaranty - reported $397.5 billion in primary insurance during August, an increase from $396.4 billion in July. The total tally for primary insurance received a boost from reported monthly increases in volume, certificates issued, and applications.

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