PMI

Waterstone Mortgage Corp. has introduced a zero-down, 7/1 adjustable-rate mortgage with a 20-year amortization.

United Guaranty reported pretax operating income of $644 million for 2015 while its new insurance written increased by 21%.

Arch's mortgage insurance unit saw an increase of over 1,000% in fourth-quarter underwriting income due to a significant decline in losses and loss-adjustment expenses.

Genworth's U.S. mortgage insurance business earned $179 million in 2015, but the parent company lost $615 million as it still has problems with its long-term care insurance product.

Freddie Mac has taken out another reinsurance policy that transfers risk of default on mortgages it insures.

Lenders argue that the GSEs would be better off buying more loans that are already insured, rather than transferring credit risk after holding them for a time. But Freddie Mac's Kevin Palmer says certainty of reimbursement is more important than the timing of risk transfers.

United Guaranty's spinoff from American International Group will result in changes to its capital structure that could shake up the competitive landscape in the private mortgage insurance market.

Credit default swap spreads have widened substantially for MGIC Investment Corp. since the start of the new year, reflecting changes in policy pricing, according to a report from Fitch Solutions.

Radian Group reported net income of $287 million, compared with $960 million for 2014, but that year's results were boosted by a tax allowance reversal.

American International Group's Donna DeMaio, who has management duties for several different segments of insurance, was designated to stick with the mortgage-guaranty subsidiary that the company plans to exit, CEO Peter Hancock said.