SOURCE: Mortgage News Feed
NMI Holdings, the parent company of National Mortgage Insurance Corporation, just took out a $150 million senior secured loan. The mortgage insurer said it needs the money not just to support the continued growth of its insurance-in-force but also to ensure compliance both at state and national levels. In an official statement, Bradley Shuster, chairman and CEO of National MI, said: "Our recent growth in new insurance written, insurance-in-force, and risk-in-force has surpassed our expectations, and is driving the need for more capital to comply with the risk-to-capital frameworks of both state and federal regulatory agencies." Read Full Article Here >>
About The Author
Each week we post articles on FHA/VA Government news topics, ranging from FHA Direct Endorsement Underwriters, to current FHA underwriting guidelines, to new FHA rules/regulations, FHA compliance, FHA lending requirements and much more! PLEASE NOTE: We are NOT owned, operated or affiliated with HUD, FHA or the Federal Government in any way.