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 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 …
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 …
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 …
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 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 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 — …
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 …
The government’s consumer finance watchdog is investigating mortgage insurance deals between banks and the insurers American International Group Inc., MGIC Investment Corp. and Genworth Financial Inc. The three companies said in public filings last week that they had received subpoenas …
Mortgage insurer MGIC Investment Corp. has sued mortgage financier Freddie Mac and the Federal Housing Finance Administration to settle a dispute over coverage limits on certain insurance policies. MGIC said on Thursday it filed the suit in federal court in …
