PMI

American International Group Inc.'s mortgage insurer, United Guaranty Corp., filed for an initial public offering as the parent company faces sustained pressure from activists to split up.

Five policy heavy-hitters issued a proposal this week to merge Fannie Mae and Freddie Mac into a single government corporation as a way to move beyond the conservatorships of the two government-sponsored enterprises.

Genworth Mortgage Insurance Corp. plans to change its pricing structure for borrower-paid policies.

Freddie Mac has expanded the amount of ongoing loan-level data it discloses about mortgages it insures in an effort to boost appetite for reinsurance.

Radian Guaranty is filing a new rate structure, lowering its premiums for higher-quality borrowers and raising them for those with lower credit scores.

NMI Holdings should become profitable for the first time in the second half of 2016 as its insurance-in-force is expected to go over $21 billion.

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.

Insurance giant American International Group’s announcement Tuesday that it plans to split off its mortgage insurance business takes the prospect of a broader breakup off the table in the short term, but some observers think the firm may still break itself up eventually.

The mortgage industry can better manage disparate regulatory requirements with a comprehensive approach that streamlines compliance.

American International Group announced $3.6 billion in new costs to fill a reserve shortfall and said it will hold an initial public offering for its mortgage insurer and sell an adviser network as CEO Peter Hancock seeks to boost returns and protect his job after criticism from activist investor Carl Icahn.

American International Group's plan to spin off a portion of its mortgage insurance unit is "almost pointless" given the challenges that CEO Peter Hancock faces to fix the much larger property-casualty business, an analyst at Keefe, Bruyette & Woods said.