PMI

The revisions also revise how the surplus is calculated to evaluate risk of the bonds used as part of the available asset portion of the capital requirements.

Enact's stock offering priced on Sept. 16 in its expected range, at $19 per share, and quickly moved up to over $21.

Delinquency concerns continue to wane as the end of forbearances is not expected to lead to a massive wave of foreclosure activity.

It is only a modest positive for new publicly-traded mortgage companies if acting Federal Housing Finance Agency head Sandra Thompson rolled back the caps put in place by the agreement with the Treasury.

Private mortgage insurers can continue to hold less capital for forborne delinquent loans, which helps them potentially upstream payments to parent companies in the third and fourth quarters.

Meanwhile, National MI has been increasing its new insurance written by slightly widening its credit standards.

Between terms as Federal Housing Commissioner — where he oversaw Radian's government-run competitor — he served on the private mortgage insurer's board.

After the spinoff and a concurrent private sale to Bayview Asset Management, Genworth Financial will still own 80% of the rebranded Enact.

The mortgage insurance business had adjusted operating income of $126 million in the first quarter, down from $148 million one year ago.

The draft of the Downpayment Toward Equity Act of 2021 calls for grants for a limited segment of the market: those whose parents don't own homes.