Genworth

“They are willing to play this to the end, one way or the other.”

While low interest rates drove up new insurance written, the increased defaults stymied overall performance.

The domestic mortgage insurer could have a portion of its equity sold as an initial public offering if the China Oceanwide transaction were to be terminated.

If the transaction does not go through, Genworth is looking at reviving a spin-out of its U.S. mortgage insurance business.

But the coronavirus put a hold on the market in April and remains an overhanging cloud for the future.

But it is still looking to conserve capital to cover future delinquencies and will likely halt dividends to the parent company.

The latest deadline for Genworth Financial's acquisition by China Oceanwide is June 30, but the parties are looking to get the transaction completed by the end of next month.

With the economy and job market both healthy before the COVID-19 crisis, first-time homebuyers took advantage of low mortgage rates and hit their highest volume in two decades.

Mortgage-related companies finalized four partnerships, a servicing-retention firm went up for sale, and a long-delayed insurance-related transaction moved forward this week in a wave of industry merger and acquisition activity.

The deadline for China Oceanwide to complete its acquisition of Genworth Financial was extended for a 13th time, following completion of the sale of Genworth MI Canada to Brookfield Business Partners.

The housing market is likely changing to predominantly repeat purchasers, even as growth in the first-timer buyer segment continued in the third quarter, a study from Genworth found.

More private mortgage insurers reported significant year-over-year gains in new business during the third quarter, mainly driven by the increase in refinance volume.

Genworth Financial agreed to sell its Canadian unit to Brookfield Business Partners for C$2.4 billion ($1.8 billion) as it works to win regulatory approval for its acquisition by China Oceanwide Holdings Group.

Genworth Financial's efforts to advance its sale to China Oceanwide hit a roadblock as bondholders did not respond to a consent solicitation for easing a possible Canadian mortgage insurance unit sale.

The oft-delayed sale of Genworth Financial might need new approvals from U.S. insurance regulators if and when it disposes of its Canadian mortgage insurance stake.

Genworth Financial is marketing its stake in Genworth MI Canada in a possible last-ditch effort to save the long-delayed proposed acquisition by China Oceanwide.

In a weak first quarter, housing activity held up better for first-time homebuyers than others, according to a new Genworth Mortgage Insurance report.

Private mortgage insurers can help to ease banks' compliance burden when it comes to the Current Expected Credit Loss accounting standard, an industry executive said.

Despite a lower rate of increase, 2019 equity gains could pull 350,000 households from being underwater on mortgages, according to CoreLogic.

Rises in the amount of low down payment loans and private mortgage insurance due to tight affordability led to the most first-time homebuyers since 2006, according to Genworth Mortgage Insurance.