Search Results

The mortgage-insurance sector is expected to continue to report operating losses well into 2013, as losses on legacy books of business will likely outweigh the profitability generated from more recent business written since 2008, according to Standard & Poors.

The mortgage-insurance sector is expected to continue to report operating losses well into 2013, as losses on legacy books of business will likely outweigh the profitability generated from more recent business written since 2008, according to Standard & Poors.

Moody's Investors Service has downgraded Republic Mortgage Insurance companys (RMIC) insurance financial strength rating to Caa2 from B1, citing continued deterioration at the troubled company.

Troubles experienced by some mortgage insurers could present opportunities for better-capitalized competitors, but those companies will have to demonstrate the ability to maintain regulatory compliance, Moody’s says.

Standard & Poor’s has lowered PMI Mortgage Insurance Co.’s financial-strength ratings to CCC-minus from B-minus, saying statutory insolvency and/or regulatory action on the company is possible by the end of the year.

Standard & Poor's Ratings Services said it has lowered its counterparty credit and financial strength ratings on five U.S. mortgage insurance groups.

California Gov. Arnold Schwarzenegger has signed legislation giving a regulator the authority to ease capital requirements for mortgages insurers.

A new Pennsylvania firm, Essent Guaranty Inc., said it has received approval from regulators in that state and will become the first insurer of U.S. private mortgages since the financial crisis began.