U.S. Mortgage Guaranty Insurance Companies
The 38 insurance companies below sell coverage that pays a lender when a borrower defaults. Generally, a borrower who makes less than a 20% down payment on a mortgage is required to purchase this coverage.
Mortgage insurers are in trouble. Huge losses, $2.4 billion in 2010, threaten to destroy the mortgage insurance business that is dominated by six groups.
The insurers are facing serious threats to their very existence as the financial crisis continues. The rate of losses is unsustainable, and the only question is whether some insurers will stop writing business before they run out of capital..
| Company (State) |
Weiss Financial Strength Rating |
Parent Name |
2010 Mortgage Guaranty Earned Premium ($Mil) |
Q1 2011 Net Income ($Mil) |
2010 Net Income ($Mil) |
% Change in Capital Dec. 31, 2010 - Mar. 31, 2011 |
| ASSURED GUARANTY MORTGAGE INS CO (NY) |
U |
ASSURED GUARANTY/FIN SEC ASR |
0.0 |
0.2 |
0.7 |
0.5% |
| CMG MORTGAGE ASR CO (WI) |
B |
CUNA MUTUAL GRP |
0.3 |
(0.3) |
(0.3) |
-5.6% |
| CMG MORTGAGE INS CO (WI) |
C+ |
CUNA MUTUAL GROUP |
83.6 |
(3.5) |
3.4 |
-1.3% |
| CMG MORTGAGE REINS CO (WI) |
C- |
CUNA MUTUAL GRP |
11.1 |
(0.5) |
0.3 |
-2.7% |
| COLONIAL MORTGAGE INS CO (TX) |
D+ |
COLONIAL INS GROUP |
1.5 |
(0.2) |
(1.3) |
-11.3% |
| COMMONWEALTH MORTGAGE ASR CO OF TX (TX) |
D- |
RADIAN GROUP INC |
77.1 |
(21.1) |
(145.0) |
-42.4% |
| GENWORTH MORTGAGE INS CORP (NC) |
D+ |
GENWORTH FINANCIAL |
522.6 |
(104.7) |
(787.4) |
-7.7% |
| GENWORTH MTG INS CORP OF NC (NC) |
D |
GENWORTH FINANCIAL |
49.7 |
(16.8) |
(118.0) |
-13.3% |
| GENWORTH RESIDENTIAL MTG ASR CORP (NC) |
B- |
GENWORTH FINANCIAL |
0.1 |
0.1 |
1.2 |
-0.1% |
| GENWORTH RESIDENTIAL MTG INS CORP NC (NC) |
C+ |
GENWORTH FINANCIAL |
27.2 |
1.3 |
(17.4) |
-2.4% |
| MGIC CREDIT ASR CORP (WI) |
D+ |
MGIC INVESTMENT CORP |
0.4 |
0.1 |
0.1 |
0.3% |
| MGIC INDEMNITY CORP (WI) |
U |
MGIC INVESTMENT CORP |
0.0 |
1.2 |
4.8 |
0.5% |
| MGIC MORTGAGE REINS CORP (WI) |
D+ |
MGIC INVESTMENT CORP |
1.2 |
(0.3) |
(9.5) |
-2.8% |
| MGIC REINS CORP (WI) |
C- |
MGIC INVESTMENT CORP |
32.0 |
1.6 |
(1.8) |
2.0% |
| MGIC REINS CORP OF WI (WI) |
D- |
MGIC INVESTMENT CORP |
116.4 |
(5.9) |
(119.3) |
-4.3% |
| MGIC RESIDENTIAL REINS CORP (WI) |
D+ |
MGIC INVESTMENT CORP |
1.2 |
(0.3) |
(9.5) |
-3.4% |
| MORTGAGE GUARANTY INS CORP (WI) |
D+ |
MGIC INVESTMENT CORP |
1,016.5 |
(8.8) |
259.0 |
-0.4% |
| PMI INS CO (AZ) |
D |
PMI GROUP INC |
62.4 |
(12.1) |
(77.2) |
-76.9% |
| PMI MORTGAGE ASR CO (AZ) |
U |
PMI GROUP INC |
0.0 |
(0.1) |
1.2 |
-1.2% |
| PMI MORTGAGE GUARANTY CO (AZ) |
D+ |
PMI GROUP INC |
0.8 |
(0.0) |
(3.4) |
-1.2% |
| PMI MORTGAGE INS CO (AZ) |
D |
PMI GROUP INC |
512.3 |
(125.1) |
(551.8) |
-19.8% |
| RADIAN GUARANTY INC (PA) |
D+ |
RADIAN GROUP INC |
641.8 |
(240.6) |
(535.2) |
-15.8% |
| RADIAN INS INC (PA) |
D+ |
RADIAN GROUP INC |
18.8 |
3.6 |
43.9 |
2.1% |
| RADIAN MORTGAGE INS INC (AZ) |
E+ |
RADIAN GROUP INC |
1.8 |
1.0 |
(60.6) |
112.5% |
| REPUBLIC MORTGAGE INS CO (NC) |
D |
OLD REPUBLIC GRP |
408.7 |
(73.7) |
(162.5) |
-8.9% |
| REPUBLIC MORTGAGE INS CO OF FLORIDA (FL) |
E+ |
OLD REPUBLIC GRP |
7.0 |
(1.2) |
(1.7) |
-20.6% |
| REPUBLIC MORTGAGE INS CO OF NC (NC) |
C |
OLD REPUBLIC GRP |
83.1 |
(14.2) |
(32.2) |
10.5% |
| RESIDENTIAL INS CO (AZ) |
U |
PMI GROUP INC |
0.0 |
0.1 |
0.7 |
-0.5% |
| TRIAD GUARANTY ASR CORP (IL) |
B |
COLLATERAL HOLDINGS LTD |
3.1 |
(0.4) |
3.4 |
0.1% |
| TRIAD GUARANTY INS CORP (IL) |
E |
COLLATERAL HOLDINGS LTD |
200.3 |
(36.4) |
(147.0) |
4.9% |
| UNITED GUARANTY INS CO (NC) |
B- |
AMERICAN INTL GRP |
34.4 |
1.1 |
1.9 |
1.7% |
| UNITED GUARANTY MORTGAGE INS CO (NC) |
B- |
AMERICAN INTL GRP |
34.4 |
1.0 |
1.5 |
1.6% |
| UNITED GUARANTY MTG INS CO OF NC (NC) |
B- |
AMERICAN INTL GRP |
34.4 |
1.1 |
2.0 |
1.7% |
| UNITED GUARANTY RESIDENTIAL INS CO (NC) |
D+ |
AMERICAN INTL GRP |
415.9 |
35.8 |
64.8 |
-2.9% |
A=Excellent; B=Good; C=Fair; D=Weak; E=Very Weak; U=Unrated
Weiss Financial Strength Ratings based on March 31, 2011 data
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