Essent, the privately held 'new' player in the mortgage insurance space, has yet to give out any volume numbers on its new policies written, but from what we're hearing the firm is making its presence known. The company is now marketing its image more broadly and its competitors are running into the firm more often. Essent is gaining, in part, because firms like The PMI Group and RMIC are cutting back because of capital and regulatory concerns. In a new note to its clients, Garrett Watts notes, “there's doubt as to whether PMI can survive.”
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