United Guaranty Marks 50th Anniversary with Employee Volunteer Initiatives
Mortgage insurer expanding and preparing for growth as it celebrates first 50 years.
GREENSBORO, NC, August 5, 2013
United Guaranty Corporation is celebrating its 50th anniversary throughout the year with employee volunteer initiatives in all five of the company's offices nationwide.
United Guaranty was founded in 1963 with three employees in a downtown Greensboro office. Now one of the largest U.S. mortgage insurance providers in the industry, United Guaranty has more than 1,200 employees worldwide, including nine offices in Europe, Asia and Latin America.
In recognition of its 50 years of doing business, United Guaranty employees are giving time to a variety of charitable community projects in cities where the company has offices. These projects include organizing work teams for Habitat for Humanity projects and assisting other organizations focused on housing, health and education. AIG, United Guaranty's parent company, provides up to two days' paid time off for qualifying volunteer work.
"As we look forward to United Guaranty's next 50 years, it's gratifying to see our employees at every level embracing our long legacy of community support," said President and CEO Donna DeMaio. "This year's focus is on introducing enhancements for all of our customers—new customers as well as those who have been with us for five decades."
United Guaranty employees will celebrate the 50th anniversary with special celebrations at all U.S. and overseas offices on August 9, 2013.
In a year of rapid growth, 2013 changes at United Guaranty have included:
- Improving the customer experience with the opening of a new location in Las Vegas, NV. This location houses a team of underwriters who support United Guaranty's commitment to underwrite full files for mortgage insurance within 24 hours.
- Streamlining borrower refinances under the federal HARP program to help more underwater homeowners lower their monthly payments. Since 2009, United Guaranty has assisted more than 65,000 homeowners with HARP refinances totaling more than $12.4 billion.
- Continuing to build intelligence into the Performance Premium® risk-based mortgage insurance pricing system that considers a wide range of loan characteristics to go far beyond simple tier-based systems and reward lower-risk loans with a lower premium.
- Successfully introducing the Connective Mortgage Advisory Company subsidiary to facilitate purchase of mortgage loans by AIG companies as long-term investments.
- Launching new employee volunteer initiatives focused on housing and related charities.
About United Guaranty
United Guaranty Corporation and its subsidiaries provide innovative, quality risk solutions that help mortgage lenders remain competitive while generating a profitable and responsible book of business for their stakeholders. Products include first-lien private mortgage insurance—most notably Performance Premium®, the industry's only MI pricing system that is truly risk based, surpassing simple tier-based systems and broadening options for lenders and their customers. Among United Guaranty's suite of loan analysis and risk management tools are indices that assess loan risk and likelihood of default. United Guaranty was established in Greensboro, North Carolina, in 1963 and is a company of American International Group, Inc.
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIG_LatestNews | LinkedIn: http://www.linkedin.com/company/aig
Jo Fleischer, Director – Media Relations
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