GE Capital Mortgage Insurance Co., Raleigh, N.C., is introducing an "A-Minus" program so that it can provide mortgage insurance for homebuyers with less than perfect credit profiles."We know that many borrowers who just miss traditional underwriting guidelines still represent a good credit risk," said GECMIC senior vice president Warren Raybould. Starting Oct. 1, Excel-delegated lenders can start to deliver A-Minus loans through standard delivery, Mr. Raybould said. GE is joining several other private mortgage insurance firms that are offering MI on A-Minus loans. MGIC of Milwaukee and United Guaranty of Greensboro, S.C., announced similar programs this summer.
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