PMI

First American Financial, Old Republic, Stewart reveal how the third-quarter results point their way forward.

China Oceanwide said it was not able to meet with Hony Capital to finalize the terms and conditions because of the pandemic.

Neither side opted to invoke their Aug. 31 termination rights and the deal is set to close by the end of September.

Arch's second CRT transaction this year to obtain indemnity reinsurance for mortgage-insurance premiums comes at a time it is also experiencing rising 60-plus-day delinquencies on its outstanding securitized pools.

Most of the proceeds will be used to deal with debt maturities, with the rest held by the MI unit's parent.

“They are willing to play this to the end, one way or the other.”

CUNA Mutual Group previously provided this service through a joint venture with PMI Mortgage Insurance but exited the business in 2014.

Insurance claims and claims expenses were 503% above 1Q and 1,075% over 2Q19.

The delinquent loan inventory more than doubled compared with the prior year.

While low interest rates drove up new insurance written, the increased defaults stymied overall performance.