Tag Archives: Mortgage Guaranty Insurance Corp.

The mortgage industry had a lot to say late last week following the release of new draft standards for private mortgage insurers to work with GSE loans—and not all of the reactions were positive. U.S. Mortgage Insurers (USMI), a trade group comprised of a number of member insurers, was quick to lend its support in a statement, though not all member companies agreed.

Mortgage Guaranty Insurance Corporation (MGIC) announced the addition of two industry professionals to help advance the company’s business and product development efforts.

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.

To help keep up with growing demand for private mortgage insurance, Mortgage Guaranty Insurance Corporation (MGIC) announced the addition of six veteran industry professionals to its sales team.

Mortgage Guaranty Insurance Corporation (MGIC) announced the promotion of both Mike Kull and Dean Dardzinski to VP national account manager.

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.

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.

In an effort to streamline the mortgage insurance application process, Mortgage Guaranty Insurance Corporation (MGIC) introduced several changes to its underwriting guidelines.