The four surviving private MIs that are still writing new business after the wreckage of the hous-ing market collapse last week agreed to pay a relatively modest $15.40 million to settle a longstanding dispute over their arrangements with captive reinsurance entities sponsored by lenders. The Consumer Financial Protection Bureau alleged that Genworth Financial, United Guaranty, Radian Guaranty and Mortgage Guaranty Insurance Corp. violated the Real Estate Settlement Proce-dures Act by paying illegal kickbacks – in the form of reinsurance premiums – to get business from mortgage lenders. “The payments made as supposed ‘reinsurance’ premiums did not correspond to a proportionate transfer of insurance risk between the parties,” said CFPB Director Richard Cordray. An Inside Mortgage Finance analysis of MI regulatory filings suggests...