PMI

The U.S. mortgage insurance business remained a bright spot for Genworth Financial, as fourth quarter adjusted operating income increased 29% and new insurance written rose nearly 95% over the prior year.

Mortgage refinancings made up slightly under one-third of MGIC Investment Corp.'s new insurance written during the fourth quarter, contributing a significant percentage of its business.

Radian Group sold Clayton Services, a due diligence company it acquired in the 2014 purchase of Clayton Holdings, to Covius Holdings.

Now is not the time for the government to cut Federal Housing Administration premiums and enter new segments of the housing market.

The deadline for China Oceanwide to complete its acquisition of Genworth Financial was extended for a 13th time, following completion of the sale of Genworth MI Canada to Brookfield Business Partners.

The housing market is likely changing to predominantly repeat purchasers, even as growth in the first-timer buyer segment continued in the third quarter, a study from Genworth found.

Private mortgage insurance now has almost matched the government's Federal Housing Administration program in market share, having gained approximately eight percentage points in the past five years, Keefe, Bruyette & Woods found.

The two newest private mortgage insurance companies had their best quarters ever for new insurance written, aided by the increase in consumers refinancing with less than 20% home equity.

An increase in credit risk transfer activity since 2015 signifies a sea change for private mortgage insurers that may be about to intensify, according to an industry trade group.

More private mortgage insurers reported significant year-over-year gains in new business during the third quarter, mainly driven by the increase in refinance volume.