PMI

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.

Inventories should keep shrinking, which is likely to drive higher returns on equity and reduce their loss ratios, a BTIG report said.

The inevitable cancellation of the takeover transaction by China Oceanwide means Genworth will be spinning out a portion of its U.S. mortgage insurance business.

But private mortgage insurers should not see significant impact on business if a 25 basis point reduction were to occur sometime after 2021, according to BTIG.

Federal Judge Kenneth Marra for a second time has granted the mortgage company summary judgment in the case brought by the bureau in 2017.

Meanwhile at Essent, more loans exited the inventory in January than in December.

Investor concerns about a 25 basis point reduction taking business from private insurers might be overblown, but a 50 bp cut could affect an additional 10%-15% of the low down payment market, KBW said.