Almost two decades ago, General Electric spun off several of its insurance-related businesses (including mortgage insurance) into a new unit, creating Genworth.
Claudia Merkle, CEO of National MI, said FHA and MI businesses operate on different points of the risk spectrum and, therefore, a cut in MIP will not result in massive ramifications for the MI industry.
“The number of primary delinquent loans was 55,537 as of December 31, 2020, compared to 62,737 as of September 30, 2020 and 21,266 as of December 31, 2019,” Radian noted in its earnings report.