NMI takes out big loan to comply with stricter regulations

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 >>

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