PMI

The agency released a plan last week that would stipulate that newly constructed homes financed by the Federal Housing Administration would have to be elevated two feet above the 100-year-based flood level.

NMI Holdings reported record net income of $6.2 million for the third quarter, as its insurance-in-force grew 19% during the period.

A financial report due out soon could reignite a battle over whether the Federal Housing Administration should again reduce its annual premium.

Radian Group reported an 18% uptick in net income as it set a company record for the highest quarterly volume of flow mortgage insurance.

Arch Capital Group's mortgage insurance business had underwriting income of $37.4 million in the third quarter, an increase of 119% compared with the $17.1 million one year prior.

China Oceanwide Holdings Group has agreed to purchase Genworth Financial in a $2.7 billion cash deal, joining a record buying spree by Chinese companies as they seek to boost growth overseas.

Fannie Mae has started a pilot program that transfers 265 basis points of default risk on $3.7 billion of loans delivered over a six-month period to private mortgage insurers.

The mortgage industry remains deeply uneasy with efforts by Fannie Mae, Freddie Mac and their regulator to experiment with front-end credit risk transfers, with some arguing it helps borrowers and lenders, while others fear it will cut out small institutions.

MGIC Investment Corp. posted the biggest intraday gain in 11 weeks as third-quarter operating profit advanced on lower costs tied to soured home loans.

New American Funding and Alterra Home Loans have selected Radian Group as the preferred private mortgage insurance providers for their Your Path loan program.