HousingWire has an article thas spells out some bad news for banks. Triad Guaranty, a mortgage insurance company, has been ordered by its state regulator not to pay out more than 60% of the amount of any claim in order to preserve capital. The remaining 40% of the claim is paid via an IOU. Triad can […]
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Is There A Pony In The Foreclosure Plan For The MI Companies?
Posted by Tom Lindmark on February 18th, 2009
Here’s an off the wall thought. Does the new Obama plan take some pressure off the mortgage insurance companies? Assuming that it works and some, what, four or five million borrowers with Agency mortgages refinance, that has to pull a lot of potential loss exposure off the books of the MI companies. As I read […]
