The Federal Housing Finance Agency (FHFA) issued its draft Private Mortgage Insurer Eligibility Requirements (PMIERs) yesterday, and while the new rules would be more restrictive, Genworth Financial Inc (NYSE:GNW) and Essent Group Ltd (NYSE:ESNT) were both positive in their initial feedback.
Essent Group already meets draft requirements
“We commend FHFA, Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) for all of their work in revising the PMIERs,” said Essent Group Ltd (NYSE:ESNT) Chairman and CEO Mark Casale in a statement. “We believe that the proposed risk-based capital adequacy framework in the PMIERs is fundamentally sound.”
Essent Group Ltd (NYSE:ESNT) will...
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