American International Group will receive $590 million in gross proceeds from the sale of Arch Capital Group stock it received in the United Guaranty Corp. transaction.
From pockets of growth in a shrinking refi market to the possibility of REITs buying agency risk-sharing securities, here's a look at recent market shifts that major industry players are focused on right now.
Fannie Mae's credit risk sharing transactions since 2013 have grown to the point where the total for the unpaid principal balance transferred has reached $1 trillion.
While consumers pay for mortgage insurance policies, carriers like Arch MI are forging new relationships with real estate agents and strengthening lender partnerships to reach the growing segment of millennial and low-to-moderate-income homebuyers.
Private mortgage insurers have brought their once-beleaguered sector back to financial health. But rebuilding trust with their business partners is still a work in progress.
Radian Group earned $76.5 million for the first quarter, up 16% from $66.2 million one year prior, helped by a 25% year-over-year rise in new insurance written.
MGIC Investment Corp. had net income of $89.8 million for the first quarter, an increase of nearly 30% over the same period last year of $69.2 million.
