September 9, 2016
Donna DeMaio on How a Technology Revolution Enabled Mortgage Evolution
As part of the 40th Anniversary of National Mortgage News, the publication asked United Guaranty CEO Donna DeMaio to reflect on changes to the mortgage insurance industry since 1976.
August 15, 2016
AIG Agrees to Sell United Guaranty Corporation to Arch Capital Group
On Monday, August 15, 2016, AIG announced the proposed sale of United Guaranty Corporation to Arch Capital Group Ltd., a Bermuda-based writer of specialty lines of property and casualty insurance and reinsurance, as well as mortgage insurance and reinsurance. The agreement, which is subject to required regulatory approvals, will create the largest private mortgage insurer based on insurance in force.
August 5, 2016
United Guaranty CEO Donna DeMaio Receives Recognition from HousingWire
HousingWire has recognized Donna DeMaio as one of the most influential women in the housing industry. The Women of Influence award recognizes the outstanding leadership of women in mortgage lending, servicing, investing, and real estate.
DeMaio was recognized for inspirational leadership in her company, community, and industry. Among her many contributions, in 2015 she led United Guaranty to achieve record sales volume as well as the number-one rank in traditional new insurance written for the fifth consecutive year. She also provided key support for Guilford County's "Say Yes to Education" initiative to help students afford college.
March 24, 2016
Standard & Poor's Announces Ratings for United Guaranty Residential Insurance Company
Standard & Poor's upgraded the standalone credit profile of United Guaranty Residential Insurance Company (UGRIC) to "BBB+" from "BBB" based on improved capitalization. Although financial strength ratings vary in the industry based on parent company support, no U.S. mortgage insurer has a higher standalone credit profile by S&P.
As part of this action, S&P also reduced its financial strength rating of UGRIC to "BBB+" in response to AIG's announced plans to pursue an initial public offering of United Guaranty Corporation.
United Guaranty Corporation President and CEO Donna DeMaio said, "As a company, we recognize that our success over more than five decades is built on our financial strength, outstanding employees and management, innovative products, and a dedication to customer service."
In addition, UGRIC exceeded Private Mortgage Insurer Eligibility Requirements (PMIERS) by an estimated $600 million as of December 31, 2015." (These estimates may change depending on future interpretations or prospective amendments by the GSEs.)
United Guaranty set a sales record in 2015 and has been the industry's number one mortgage insurer in terms of traditional new insurance written for five consecutive years, 2011–2015. Additionally, United Guaranty has demonstrated profitability for 12 consecutive quarters and finished 2015 with the number one ranking among mortgage insurers in private mortgage insurance in force with $184.9 billion.
February 19, 2016
United Guaranty Leads MI Industry
United Guaranty ranked first among private MIs in total mortgage insurance in force. The company reported $184.9 billion of private MI in force as of the end of 2015, accounting for 22.4 percent of the market.
February 5, 2016
United Guaranty Featured in The M Report's Insurance Company Guide
The M Report profiles United Guaranty in the annual Insurance Company Guide in the magazine's February 2016 issue. The article provides an overview of United Guaranty and its 52-year history, products and services, and the company's dedication to delivering superior customer service.
December 22, 2015
United Guaranty Statement on Adoption of Tax Deductibility on Mortgage Insurance Premiums for 2015 and 2016
United Guaranty is pleased that homeowners who use mortgage insurance to make a home purchase in 2016 and in previous years may qualify for a tax deduction on mortgage insurance premiums thanks to recent action by Congress. Restoring tax deductibility for 2015 and 2016 adds to the many benefits mortgage insurance provides, including helping qualified families and individuals purchase their home without waiting to save the 20 percent down payment most lenders require.
United Guaranty does not provide tax advice and advises homeowners to consult a financial advisor for more information.
November 24, 2015
The MBA's Mortgage Banking Magazine Highlights United Guaranty's National Mortgage Professionals Month
United Guaranty had the month of September declared National Mortgage Professionals Month. To help pay tribute, the company gathered stories from industry professionals about how they helped people become homeowners.
April 21, 2015
Mortgage Insurers React to PMIERs
Fannie Mae and Freddie Mac issued new financial and operational standards for private MI companies that insure loans backed by the government-sponsored enterprises.
The new requirements go into effect on Dec. 31, and United Guaranty issued a statement indicating that it will be fully compliant by the deadline.
April 17, 2015
United Guaranty and PMIERs
With the release of the Final PMIERs standards on Friday, April 17, 2015, the entire mortgage industry can now be confident in mortgage insurers' ability to pay claims in the future. We at United Guaranty look forward to being fully compliant with the eligibility standards on their effective date, December 31, 2015.
The PMIERs requirements are consistent with our company's commitment to being prepared to withstand economic stress events. We strive to be second to none in terms of financial strength because we know you rely on us as a financial partner. It's just one of our strengths, which also include:
- We are dedicated to providing the best customer service in the industry, with 24-hour turnaround on more than 98 percent of full-file submissions during 2014.
- United Guaranty is proud to offer our advanced industry-leading pricing solution, Performance Premium®, the only comprehensive risk-based pricing system in our industry.
- As an AIG member company, United Guaranty is part of a nonbank systemically important financial institution (nonbank SIFI) and participates in Comprehensive Capital Analysis and Review (CCAR) stress testing, which no other MI is currently subject to.
We look forward to working with you to help provide the best MI solutions to meet the individual needs of your borrowers. If you have any questions about our company or this communication, please contact your United Guaranty Sales Representative.
Standard & Poor's, March 9, 2015
Research Update: United Guaranty Upgraded to A
- On March 9, 2015, Standard & Poor's Ratings Services raised its financial strength and long-term counterparty credit ratings on United Guaranty Residential Insurance Co. (UGRIC) to 'A' from 'A-'. At the same time we raised our financial strength rating on United Guaranty Mortgage Indemnity Co. (UGMIC) to 'A'. The outlook is stable.
National Mortgage Professional, January 2, 2015
Providing a Helping Hand to First-Time Home Buyers
- For many young borrowers, it's more difficult to buy a first house than it was for their parents, even when the young home buyers have solid incomes and strong credit histories. For qualified borrowers with strong credit scores, mortgage insurance provides alternatives while providing assurance to lenders.
National Mortgage Professional, September 3, 2014
United Guaranty Introduces New Rescission Relief Option
- United Guaranty has introduced SecureCert®, a suite of five options that allow lenders to choose the maximum rescission relief available in the mortgage insurance (MI) industry—at no added cost.
The Charlotte Observer, May 15, 2014
United Guaranty's Underwriters Set Record with 24-Hour Turnaround on 97 Percent of Applications
- Underwriting teams at United Guaranty Corporation are surpassing previous corporate records by achieving 24-hour turnaround 97 percent of the time on full-file applications for mortgage insurance (MI). The teams averaged 97 percent in the first quarter of 2014 after averaging 95 percent through the second half of 2013.
Natonal Mortgage Professional, February 6, 2014
United Guaranty Makes Enhancements to its Mortgage Insurance
- United Guaranty has announced the introduction of a new first lien mortgage insurance (MI) Master Policy that strengthens customer relationships with a first-in-the-industry Policy Commitment Letter—specific to each lender—that clearly defines each party's roles and responsibilities, adding certainty and flexibility.