Former Triad Executives Contemplating New MI?

A group of former executives for Triad Guaranty is exploring the possibility of creating a new mortgage insurance company, according to MI executives and other industry officials familiar with the situation. If the company gets off the ground, it would be the second new MI company formed since the credit crisis begun in earnest in the fall of 2008. (See related story on Essent.) At press time few details were available concerning the company which has the working name of 'MAC.' Triad, which is headquartered in Winston-Salem, N.C., is self liquidating and has roughly $57 billion of policies-in-force left on its books. The company is the smallest of the nation's seven operating MIs, according to National Mortgage News and the Quarterly Data Report.