Volume 2014 - Number 19
May 15, 2014
Downloads Available: Total Private MI New Insurance Written - 1Q14
Downloads Available: Traditional Private MI New Insurance Written and HARP MI Activity - 1Q14
Downloads Available: Primary Mortgage Insurance Activity - 2004-1Q14
Private Mortgage Insurers Hold Their Own In Early 2014; Four Survivors Turn a Corner
During the first quarter of 2014, private mortgage insurance companies may have seen a somewhat bigger decline in new business than their government competitors, but the industry recorded a rare achievement in terms of profitability, according to a new Inside Mortgage Finance analysis. For the first time since early 2007, all four of the private MIs that survived the mortgage apocalypse reported a profitable quarter. Mortgage Guaranty Insurance Corp., Radian, United Guaranty and Genworth all finished in the black, with a combined $296 million in income on their domestic MI activities. Different combinations of these four had reported profitable quarters at various times, and the industry as a whole has been profitable since the second quarter of last year. Including Essent Guaranty and National MI, the industry earned...[Includes three data charts]
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