U.S. mortgage insurance on the brink of collapse, changes for the housing market loom

The U.S. mortgage insurance market is on the cusp of a major revolution, but not for the better. The problems stem from the 2008 worldwide economic recession. The recession took a massive toll on the U.S. housing market, resulting in a crisis that persists to this day. Several insurance companies that specialized in mortgages floundered in the wake of the recession and those that survived now hold too much risk to continue writing policies. Insurers lost billions as a result of the housing crisis, losing much of the surplus capital…

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