Canada’s banking regulator on Tuesday proposed changes to capital adequacy guidelines that would require lenders and mortgage insurers to hold more funds to better manage risks from a sharp rise in home loan rates. Variable home loan rates have risen …
NEW ORLEANS (AP) _ A nursing home owner who faces criminal and civil complaints over evacuating residents to a squalid warehouse to ride out Hurricane Ida in 2021 is now being sued by federal authorities who say he misspent $4 …
A housing market downturn in Canada is among the biggest risks facing the financial system this year, the country’s financial regulator said on Thursday, adding it plans to review the existing home loan stress test and expand its application to …
Genworth Financial Inc. on Monday revived plans for an initial public offering (IPO) of Enact Holdings, aiming for a valuation of more than $3 billion for its mortgage insurance unit, according to a regulatory filing. The company had deferred the …
This wrap-up of international People Moves details appointments at broker Gallagher Re, Aspen Insurance Holdings’ mortgage team and Marsh’s UK & Ireland construction industry team. A summary of these new hires follows here. Gallagher announced that Tom Wakefield will become …
Genworth MI Canada said on Monday real estate service provider Brookfield Business Partners will buy the remaining 43% stake it does not hold in the mortgage insurer for about C$1.6 billion ($1.21 billion). Brookfield, which owns about 57% of the …
Genworth MI Canada Inc, which runs the largest Canadian private residential mortgage insurer, said on Monday it has no plans to change its underwriting policy for debt service ratio limits, minimum credit score and downpayment requirements. Government-backed Canada Mortgage and …
Genworth Financial Inc. agreed to sell its Canadian unit to Brookfield Business Partners LP for C$2.4 billion ($1.8 billion) as it works to win regulatory approval for its acquisition by China Oceanwide Holdings Group Co. Brookfield Business Partners LP will …
Arch Capital Group Ltd. said it has made some strategic leadership changes affecting innovation and investment, and mortgage insurance. The Bermuda-based specialty insurer and reinsurer named Andrew Rippert as chief Innovation and strategic investment officer, a newly created position. He …
The U.S. Federal Housing Administration will reduce the annual premiums on mortgage insurance on home loans the agency insures by a quarter point on Jan. 27, it said on Monday. The FHA projected homeowners it insures would save an average …
