mortgage insurance News

Arch Promotes Executives to Innovation, Mortgage Insurance Leadership Roles

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 …

Federal Housing Agency to Lower Mortgage Insurance Premiums

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 …

Private Mortgage Insurers’ Bigger Slice of Freddie Mac Pie Smaller Than Hoped

Mortgage insurance companies are getting a long-awaited shot at expanding their business with Fannie Mae and Freddie Mac. But it’s shaping up to be less lucrative than they had hoped. Freddie Mac on Monday planned to say it will start …

Canada’s Regulator Tightens Capital Requirements for Mortgage Insurers

Canada’s financial services regulator released new draft capital requirements for federally regulated mortgage insurers to better reflect growing risks in the country’s housing markets. The Office of the Superintendent of Financial Institutions said Friday the new requirements, which will come …

JLT Re Enters U.S Mortgage Insurance Market

Reinsurance broker JLT Re has launched a new operation in North America – JLT Re Global Mortgage Solutions — to offer insurance and reinsurance to government-sponsored entities, mortgage insurers, mortgage lenders and builders. Steve Rance has been appointed executive vice …

New Force-Placed Insurance Rules Prompt $100 Million Agency Sale

One of the country’s largest overseers of troubled home loans, Nationstar Mortgage Holdings Inc., is quietly trying to sell a $100 million insurance agency that doesn’t appear to exist. Harwood Service Co. has no website, no independent offices and only …

Insurers Could Face Suits Over Fannie-Freddie Insurance Prices

The regulator of Fannie Mae and Freddie Mac will consider suing insurers who charged excessive fees for hazard coverage paid by the two government-owned mortgage companies, an auditor’s report said. Fannie Mae and Freddie Mac could have overpaid about $158 …

Fairholme Offers to Buy Fannie Mae, Freddie Mac Mortgage Insurance Business

Fairholme Capital Management has proposed to buy the insurance businesses of Fannie Mae and Freddie Mac, a move that seeks to resolve the uncertain future of the mortgage financiers by freeing them from U.S. government control. Bruce Berkowitz’s Fairholme said …

Genworth Separates Mortgage Insurance Unit, Reduces Bond Default Risk

Genworth Financial Inc. on Wednesday said it was reorganizing itself to separate its mortgage insurance business from the rest of the company, reducing the risk of default on its bonds and sending its shares up 9 percent. Genworth’s shareholders — …

$42.7M Rate Reduction for California Policyholders of ‘Force-Placed’ Insurer

California Insurance Commissioner Dave Jones announced a 30.5 percent rate reduction, for “lender-placed” homeowners’ insurance coverage offered by American Security Insurance Co., an Assurant Inc.-owned company. The reduction will result in an estimated $42.7 million savings to homeowners, with an …