Mortgage insurance market moves toward private sector away from CMHC

mortgage insurance canada

The Canadian Mortgage and Housing Corp. appears to be losing its grasp on this space. For many years, the Canada Mortgage and Housing Corporation (CMHC), a Crown corporation, has held a considerable dominance over the mortgage insurance market in the country, but that situation appears to be changing. Its rivals in the private sector are now taking a greater hold on the market and is scooping up a bigger share. During the first quarter of 2014, the CMHC provided mortgage insurance for 27,869 housing units for borrowers whose down payment…

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Old Republic maybe getting a second look

Old Republic International, a multinational insurance organization, exited the mortgage insurance business just over two months ago. The company had been operating under a waiver provided by federal insurance regulators that allowed it to sell policies. When the waiver expired, the company took the opportunity to renovate its mortgage policies to accommodate changes made to insurance laws in a number of states. Now, the insurer is looking to re-enter the national market, hoping to gain favor with federal regulators and investors. Old Republic’s goal hinges on whether the company can…

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Federal Housing Finance Agency reveals strategy to boost business

The Paragon Report has now been released, providing an analysis of the opportunities for investment in the property and casualty insurance industry as well as MGIC Investment Corporation and Radian Group , Inc. equity research. Earlier in September, the acting director of the Federal Housing Finance Agency (FHFA), Edward DeMarco, gave a number of different explanations of the ways in which there would be changes to the conservatorship of the Government Sponsored Enterprises (GSEs). Some of those changes included a new method for decreasing the exposure to long-term risk by…

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