With a career spanning three decades in the national title and closing field, Jill Cadwell has honed her expertise in various executive positions at leading title and closing firms. Cadwell is a staunch supporter of technological innovation and an enthusiast ...
Read More »National MI’s Bradley Shuster Named USMI Chairman
As Chairman of USMI, Bradley Shuster plans to continue to champion the role of private insurance in facilitating low down payment lending and protecting taxpayers against mortgage risk.
Read More »Credit Trends in Mortgage Insurance Drive Strong Q1 for Radian
Philadelphia-based Radian reported $9.4 billion in new mortgage insurance written (NIW) and $172.1 billion in total primary mortgage insurance in force during Q1, according to the company's First Quarter 2015 Financial Results released Thursday.
Read More »LoanSifter Hosts QM-Focused Webinars
LoanSifter, a Wisconsin-based company specializing in technology for loan originators and secondary departments, is hosting two industry panels this week to address concerns and strategies revolving around the soon-to-be-implemented qualified mortgage (QM) rule.
Read More »Business Declines for Private Mortgage Insurers
A total of 38,908 insurance certificates for borrowers seeking to buy or refinance a home were issued by members of Mortgage Insurance Companies of America (MICA) in October. That number sits lower than most other months of 2013 and is nearly 4,000 less than last October. At the same time, dollar volume on insurance written throughout the month was the lowest since May 2012.
Read More »September Sees Drop in New Private Mortgage Insurance
Member firms of Mortgage Insurance Companies of America (MICA) issued a combined 37,501 new mortgage insurance policies with a dollar volume of $9.6 billion in September. Private mortgage insurers' new business for the month represents a drop from the 46,051 new policies issued in August and tracks a drop in August application volume of more than 5,000.
Read More »Freddie Mac Agreement Brings Down Radian’s August Delinquencies
Radian Guaranty Inc. reported a decline in primary mortgage insurance delinquencies in August. The monthly release, based on statistics reported to Radian from loan servicers, showed delinquent inventory fell by 11,715 (15.2 percent) over August to end the month at 65,427. The majority of the monthly decline came from a master transaction agreement with Freddie Mac which removed its exposure to 9,756 loans that were delinquent as of December 31, 2011 (in addition to 4,586 re-performing loans).
Read More »Radian Announces Claims Agreement with Freddie Mac
Radian Guaranty Inc., the mortgage insurance subsidiary of Radian Group Inc., has entered into a master transaction agreement with Freddie Mac which the company says eliminates its claim exposure on 9,756 delinquent mortgage loans and 4,586 re-performing loans. The agreement involves a group of 25,760 first-lien mortgages held by Freddie Mac that were insured by Radian and were delinquent as of December 31, 2011. The agreement spells out future claim payments, loss mitigation activity, and insurance coverage of these loans.
Read More »Radian Names EVP, Chief Risk Officer
Radian Group Inc. announced the appointment of Derek Brummer as EVP and chief risk officer.
Read More »CFPB Files Complaints Against Mortgage Insurers for Alleged Kickbacks
The CFPB took action against four mortgage insurance companies who gave kickbacks to lenders in exchange for business. The CFPB filed complaints and proposed consent orders against Genworth U.S. Mortgage Insurance Corporation, Mortgage Guaranty Insurance Corporation, Radian Guaranty Inc., and United Guaranty Corporation for their alleged roles in kickback arrangements. ""The orders announced today put an end to these types of arrangements and require these insurers to pay more than $15 million in penalties for violating the law,"" said CFPB director Richard Cordray.
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