The US Consumer Financial Protection Bureau (CFPB) has imposed a monetary penalty of $100,000 on Republic Mortgage Insurance Corporation (RMIC) for allegedly paying illegal kickbacks to mortgage lenders in exchange for business. In a ...
Tags: Insurance, Kickbacks Practices
London-based insurer RFIB Group (RFIB) has officially launched its new representative office in Durban, South Africa, as part of its strategy to boost its operation in the sub-Saharan insurance market. RFIB director John Hoggard has been ...
Tags: RFIB, Representative Office
Radian Guaranty, a mortgage insurance subsidiary of Radian Group (RDN), has inked a master transaction agreement related to a group of 25,760 first-lien mortgage loans held by Freddie Mac. Freddie Mac became delinquent as of 31 December ...
Tags: Radian Guaranty, insurance
US-based National Mortgage Insurance Corporation (National MI) has completed systems integration with Fiserv’s LoanServ platform to streamline data transfer and to enhance operational efficiency. The platform will assist lenders, ...
Tags: LoanServ, Data Transfer
Genworth Financial has debuted its first Index Universal Life (IUL) insurance product, which integrates a death benefit with tax-deferred cash accumulation and an optional Accelerated Benefit Rider for Long Term Care Services. With a ...
Tags: Life Insurance, Genworth Financial
Genworth Financial has reported net income of $103m, or $0.21 per diluted share, compared to $46m, or $0.09 per diluted share, during the first quarter last year. Net operating income was $151m, or $0.30 per diluted share, against $17m, ...
Tags: Genworth Financial, Net Income
iQual has signed an agreement to provide its ApprovalGUARD service to Radian Guaranty, the private mortgage insurance subsidiary of Radian Group (RDN). The ApprovalGUARD will support Radian Guaranty's borrowers, who recently modified ...
Tags: Radian, iQual, Approvalguard Service
Genworth US Mortgage Insurance (USMI), a unit of Genworth Financial (GNW), has introduced a redesigned Commitment/Certificate of Insurance, to help customers to easily understand information about their mortgage insurance. The document ...
Tags: Genworth USMI, Insurance
Genworth US Mortgage Insurance (USMI) has agreed to settle the review of industry captive reinsurance arrangements with the Consumer Financial Protection Bureau (CFPB) Based on the terms of the agreement, Genworth will reimburse $4.5m ...
Tags: Genworth USMI, CFPB
Genworth Financial is planning to suspended sale of its individual long term care insurance products, California Choice and Choice Partnership, in California, US, effective from 21 March 2013. The temporary suspension follows the ...
Tags: Genworth Financial, care insurance products, California
American International Group (AIG) has set up a new business unit, known as Connective Mortgage Advisory, with an aim to identify and purchase residential mortgages for investments. Leveraging AIG's investment expertise and the experience ...
Tags: AIG, loan-servicing component, insurer
Genworth US Mortgage Insurance (USMI) has launched a new set of rules, Simply Underwrite (SM), which enables lenders to provide simplified and expanded national mortgage underwriting guidelines. Apart from offering one expanded national ...
CUNA Mutual Group and the Arizona Department of Insurance (DOI), receiver for PMI Mortgage Insurance Co (PMI), have inked an agreement to support the future development of CMG Mortgage Insurance Company (CMG MI). Based on terms of the ...
Tags: CUNA Mutual Group, DOI, PMI, CMG MI
Genworth Financial has reported net income of $166m, or $0.34 per diluted share for the fourth quarter of 2012, compared to $142m, or $0.29 during the same period previous year. Net operating income stood at was $167m, or $0.34 per ...
Mortgage insurance (MI) subsidiary of Radian Group, Radian Guaranty has introduced its MI rate finder application, Radian Rates, for Android devices on Google Play. Radian Rates is a mobile version of the company's existing online rate ...
Tags: Mortgage insurance, Radian Group, MI rate finder application