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.
Bankrate.com, November 11, 2013
Should Homeowners Get FHA Loans?
The most popular type of mortgage for buyers with low down payments keeps getting pricier and less appealing as more buyers question whether it's still worth getting an FHA loan.
Bloomberg Businessweek, October 7, 2013
AIG's Mortgage Insurer Seeks to Grab FHA Business Amid Shutdown
American International Group Inc. (AIG:US)'s mortgage insurer, whose biggest rival is a U.S. agency, is wooing borrowers with the prospect that they'll avoid delays tied to the partial government shutdown.
HousingWire, August 27, 2013
Private Mortgage Insurers Find Their Place
Fewer borrowers are refinancing into Federal Housing Administration loans, allowing private mortgage insurers to pick up some of the slack.
The shift is coming at a time when insurance premiums on FHA loans continue to rise.
Greensboro News & Record, August 16, 2013
Business Profile: United Guaranty Survives, Thrives
Fifty years ago, tiny First Mortgage Insurance quietly set its sights on becoming one of the city’s corporate giants.In those days, that was saying something.
Greensboro News & Record, August 9, 2013
Editorial: Back from the Brink
On Aug. 9, 1963, United Guaranty Corp. opened for business in downtown Greensboro as First Mortgage Co. with three employees and a tiny office.Fifty years later, it is one of the leading mortgage-insurance companies in the world, employing more than 1,200, with offices in Asia, Europe and Latin America.
National Mortgage Professional, August 5, 2013
United Guaranty Celebrates 50 Years With Charitable Initiatives
United Guaranty Corporation is celebrating its 50th anniversary throughout the year with employee volunteer initiatives in all five of the company's offices.
MSN Real Estate, July 5, 2013
Private Mortgage Insurance: Are FHA Loans Still a Good Choice?
First-time homebuyers have traditionally flocked to FHA loans because they are easier to qualify for, require less of a down payment (3.5%) and have lower rates than what borrowers might receive on a conventional loan. But that equation is changing as the cost of these loans has gone up.
HousingWire, May 20, 2013
United Guaranty Names Brian Gould COO
Mortgage insurer United Guaranty Corp. promoted Brian Gould to the position of chief operating officer. Gould joined the company back in 1999 and currently oversees underwriting, claims, loss mitigation, customer support, service operations and business analytics for the firm.
National Mortgage Professional, April 23, 2013
United Guaranty Increases Western Presence With Vegas Expansion
United Guaranty has expanded its presence in the Western United States with the opening of a new location in Las Vegas, Nev.
Inman News, April 23, 2013
Best Loan Prospects May Desert FHA
Rate hikes leave private insurers in position to lure most-qualified borrowers.
National Mortgage Professional, April 10, 2013
Matt Muller Joins United Guaranty's Oklahoma Operations
United Guaranty has announced that Matt Muller has joined the company as senior account executive for Oklahoma. In this assignment, Muller will be responsible for lender account management, relationships, and market share throughout the state.
Bloomberg, March 6, 2013
AIG to Start Loan Investment Unit as Housing Rebounds
American International Group Inc. (AIG) is building a unit to buy individual home loans amid a rebound in the housing market. AIG plans to buy loans backed by its United Guaranty Corp. unit, the largest seller of traditional private mortgage insurance last year, according to Donna DeMaio, the unit’s chief executive officer.
Scotsman Guide, January 3, 2013
Give Your Customers the Lowdown
More and more often, low appraisals are becoming a hindrance to closing deals. Whether it’s a family trying to lower its mortgage payments by refinancing or a first-time homebuyer trying to square away a purchase, lower-than-expected appraisals can cause frustration among borrowers and lenders alike, not to mention the mortgage brokers.
InsuranceNewsNet.com, January 3, 2013
A Rebound at United Guaranty
The mortgage insurance subsidiary of AIG has been breaking new ground and grabbing market share with a new approach to pricing its coverage.
The Bellevue Reporter, December 18, 2012
United Guaranty Supports Sustaining Hope Campaign
United Guaranty has contributed $25,000 to Seattle’s Plymouth Housing Group in support of the Sustaining Hope Campaign. The non-profit organization is building 81 new apartments and remodeling another 187 existing houses for formerly homeless people in the Seattle area.
Reuters, December 4, 2012
AIG Names New CEO for Mortgage Insurer United Guaranty
AIG announced that Donna DeMaio would become CEO of United Guaranty, which has become a core unit for the company in the wake of its post-bailout restructuring. DeMaio joined United Guaranty in May as chief operating officer after seven years as chief executive of MetLife Bank, a unit of MetLife Inc.
HousingWire, November 27, 2012
Mortgage Insurer United Guaranty Focuses on Risk-Based Pricing
Mortgage insurer United Guaranty, a subsidiary of American International Group, is heading into 2013 reporting profits for the first three quarters of 2012 and reporting a lower delinquency ratio for the past five quarters … Kim Garland, chief executive officer of United Guaranty, recently said … he envisions a future where the company will keep its risk-based pricing methods as a hallmark of the United Guaranty brand.
HousingWire, September 6, 2012
United Guaranty Allows Payment Forbearance After Hurricane Isaac
Homeowners impacted by Hurricane Isaac may qualify for loan forbearances if they have loans insured by United Guaranty. The mortgage insurer is following in the footsteps of Freddie Mac by approving forbearances on monthly payments for borrowers with Hurricane-ravished properties.
Triad Business Journal, August 17, 2012
Up Close: United Guaranty COO Donna DeMaio
In May United Guaranty named its new chief operating officer—Donna DeMaio, the former CEO of MetLife Bank.
National Mortgage News, August 3, 2012
Mortgage Insurer United Guaranty May Now Be No. 1 in MI in the U.S.
A subsidiary of American International Group, UGC wrote $8.5 billion of new insurance during the quarter, making it one of the most active writers of new policies in the industry.
Besides its pricing strategy, UGC said it benefited from a higher sales focus on certain channels and that two of its competitors stopped writing business last year.
United Guaranty Responds to Senators' Letter Related to HARP
United Guaranty has responded to a June 27, 2012 letter from U.S. Senators Barbara Boxer (D-CA), Bob Menendez (D-NJ) and Herb Kohl (D-WI) requesting a change in the company’s policies related to new servicer loans submitted under HARP. For full text of United Guaranty's response, please use the link below.
Link: PDF of the letter
Business Journal of the Triad, May 11, 2012
United Guaranty Hires New COO
United Guaranty has hired the former CEO of MetLife Bank as its new chief operating officer, according to an announcement. Donna DeMaio replaced Kim Garland as chief operating officer at the Greensboro-based mortgage insurance unit of AIG. Garland was promoted to CEO in February.
Business Journal of the Triad, April 26, 2012
United Way of Greater Greensboro Celebrates Support
The United Way of Greater Greensboro held its Breakfast for Champions campaign celebration Wednesday and announced it has raised more than $10.6 million for the community. The 10 companies that contributed the most were honored. Those companies were Lorillard, Lincoln Financial Group, Moses Cone Health System, VF Corporation, Syngenta Crop Protection, Inc., UPS, United Guaranty Corporation, Guilford County Schools, Procter & Gamble, and Volvo Group of Companies.
Business Journal of the Triad, March 9, 2012
New CEO Sees United Guaranty on Top
[P]rivate mortgage insurance provider United Guaranty is rebounding. Profitability is still unsteady, but the company is coming out of the recession as the busiest competitor in its industry, writing $7.1 billion worth of new policies in the fourth quarter, compared to $6.5 billion and $4.2 billion for competitors Radian and Mortgage Guaranty Insurance Corp., respectively, according to figures compiled by National Mortgage News.
Business Journal of the Triad, February 27, 2012
William Hemphill, a Founder of United Guaranty, Dies
William L. Hemphill, one of the founders of United Guaranty, died of a stroke Friday, according to an obituary. He was 90. Hemphill helped found the Greensboro-based mortgage insurer in 1963 and served as president and CEO of the company from 1972 to 1987. He negotiated the 1981 merger of the company into AIG, which still serves as the insurer’s parent company.
MortgageOrb.com, February 22, 2012
GSE Approves United Guaranty CoverEdge for Secondary Sales
United Guaranty Corp. says mortgage loans originated and closed using the company's CoverEdge underwriting process are now eligible for sale to Freddie Mac. Fannie Mae had already approved the process, and lender Real Estate Mortgage Network began pilot operations using CoverEdge in January.
The process, which features a credit and documentation analysis at loan origination and immediately after loan closing, addresses factors that can lead to denials, rescissions and payment delays when claims are filed. These include lack of documentation, loan attributes changing prior to closing, underwriting issues, and fraud and misrepresentation.
Fox Business/Dow Jones Newswires, February 21, 2012
AIG Promotes Martinez as Chartis Works to Hit Profit Goals
American International Group Inc. said its property-casualty unit was placing its claims organization and its technology department under a single management team as it works to cut claims costs and hit its long-term profit goals. The company appointed Eric Martinez, credited with reviving AIG's mortgage-insurance operation, to lead the management team.
HousingWire, February 20, 2012
United Guaranty Gets Freddie Approval on Underwriting Changes
Freddie Mac approved a mortgage insurance underwriting initiative designed by AIG subsidiary United Guaranty that seeks to curtail rescissions and home loan repurchases.
The tool, dubbed CoverEdge, is the byproduct of United Guaranty's mission to prevent fraud and underwriting mishaps that contributed to the confusion in the wake of the housing market meltdown. The company hopes to diligently stop fraud and the risk of loan repurchases and rescissions.
United Guaranty took the same stance when it chose to partake in HARP 2.0 last year, while remaining careful not to expose the firm to risks associated with fraudulently underwritten loans.
Inside Mortgage Trends, January 13, 2012
New UG Product Aims to End Rescission, Buybacks
Mortgage insurer United Guaranty Corp. says it is offering lenders a high-quality, semi-automated independent file review as their first line of defense against rescission and loan buybacks. Dubbed CoverEdge, the product is essentially a second-look tool developed by UG to catch and fix underwriting errors and identify missing documents to avoid denial of payment claims on mortgages gone bad as well as repurchase demands.
Reuters, December 30, 2011
AIG's UGC Business to Launch Loan-document Product
United Guaranty will independently verify borrowers' credit scores, payment histories and income, as well as home appraisal values and other details that are viewed as predictors of loan performance. The insurer will also act as a repository for the paperwork, which can be accessed when claims arise.
"This would be a second set of eyes and ears on the loans to ensure everything is 100 percent correct," Eric Martinez, chief executive of United Guaranty, said in an interview.
Bloomberg, November 22, 2011
AIG Mortgage-Guarantee Unit to Offer Concessions under Refinancing Program
“United Guaranty will responsibly expand our already- robust participation in the program by waiving representations associated with the original loan file for a majority of our portfolio,” Brian Gould, the unit’s senior vice president of loss management, said in a statement yesterday.
National Mortgage Professional, September 14, 2011
ISGN and United Guaranty Announce Tech Partnership
Lenders using ISGN’s MORvision loan origination system can now get up-front quotes, order mortgage insurance, and receive MI certifications from United Guaranty without having to leave their MORvision systems.
HousingWire, August 22, 2011
PMI Group Units Forced to Stop Writing New Insurance
"The industry is still facing a lot of capital constraint," [according to Rob Haines, insurance analyst with CreditSights.] "The only company that I can think of that made money this past quarter was United Guaranty, which is a unit of AIG."
National Mortgage Professional, August 8, 2011
Troubles for Mortgage Insurance Companies . . . Except United Guaranty
One of the few mortgage insurers still doing relatively well is AIG's United Guaranty ...
The Business Journal of the Greater Triad Area, August 5, 2011
AIG Chief Says Company Will Keep United Guaranty
AIG will keep its mortgage insurance unit United Guaranty, its chief executive said on a conference call with analysts today, according to Reuters.
Reuters, August 5, 2011
AIG Pans to Hold Mortgage Insurance Unit
Mortgage insurers have been struggling, with losses mounting and capital ratios breaching crucial levels that could keep them from writing new business. [...] But AIG said on Friday it was happy to hold on to United Guaranty, also known as UGC, and that newly reported delinquent loans continued to fall.
WFMY News 2, July 16, 2011
United Guaranty Makes Big Donation To Victory Junction
United Guaranty made a $25,000 donation to Victory Junction, Saturday at the North Carolina Zoo.
The Business Journal of the Greater Triad Area, July 1, 2011
Mortgage Insurers Threatened by Financial Reform Proposal
Federal regulators are taking comments on the proposed rule until Aug. 1, and several mortgage insurers including United Guaranty are arguing strenuously that the definition of a QRM should be expanded to include loans with lower down payments as long as they are backed by insurance.
"The best way to identify loans that are most likely to perform is to use a multi-variate underwriting model that is flexible and dynamic, and the proposed hard coded uni-variate fatal underwriting rules would not only fail to identify loans that are most likely to perform, but would also unnecessarily restrict the availability of credit for credit-worthy borrowers," said Kim Garland, United Guaranty's Chief Operating Officer.
MarketWatch, February 18, 2011
Mortgage Insurers Help Struggling Homeowners
“If the borrower has the willingness and financial ability to remain in the home,” said United Guaranty’s [Brian] Gould, “we try to work as a middleman to come up with a viable solution.”
American Banker, February 8, 2011
AIG's United Guaranty Gets More Granular on Pricing Mortgage Insurance
At several of the private mortgage insurance companies, the notion of enhanced risk-based premiums has taken on new life, spurred by the events of the past few years. At American International Group Inc.'s United Guaranty Corp., the risk-based pricing program is called Performance Premium.
Link (subscription required): http://www.americanbanker.com/issues/176_26/pricing-mortgage-insurance-1032591-1.html
TheStreet, November 24, 2010
United Guaranty: AIG’s Unlikely Success Story
United Guaranty’s sharp turnaround under Martinez represents something of a silver lining for AIG.
National Mortgage Professional, October 28, 2010
Thirty-Eight New Certified Mortgage Bankers Graduate CampusMBA
CampusMBA, the award-winning education division of the Mortgage Bankers Association (MBA), graduated 38 Certified Mortgage Bankers (CMB) [including United Guaranty’s Kevin Popoli] at a ceremony held at MBA's 97th Annual Convention & Expo in Atlanta. The CMB designation is one of he highest professional honors within the real estate finance industry.
American Banker, September 15, 2010
Private Mortgage Insurers about to Go Back on Offensive
For the last three years, private mortgage insurers have suffered two great woes: credit losses on policies written before the crisis and an inability to compete with Federal Housing Administration prices on new insurance. The latter problem, however, may soon be taken care of. On Oct. 4, the FHA plans to raise its premiums. Industry players and analysts say this price hike could restore the competitiveness of private insurance, potentially letting the companies win back market share and rebuild their reserves.
The Business Journal of the Greater Triad Area, August 6, 2010
United Guaranty Profit Rebound Continues
United Guaranty Corp., the private mortgage insurer owned by AIG, posted a pre-tax income of $226 million in the second quarter, compared to a loss of $488 million in the same quarter of 2009, according to AIG's earnings report. It was the second quarterly profit in a row for the Greensboro-based company.
The Business Journal of the Greater Triad Area, June 25, 2010
United Guaranty Adjusting to Life in a Riskier World
After $4 billion in losses in two years, the $73 million profit shown by private mortgage insurer United Guaranty in the first quarter was certainly welcomed news for local executives.
Bloomberg.com, June 10, 2010
AIG’s Mortgage Insurer Headed in ‘Right Direction’
American International Group Inc.’s mortgage guarantor, which recorded a quarterly profit for the first time since 2007, may continue to post improving results as it seeks to take market share from rivals, an executive said.
The Business Journal of the Greater Triad Area, May 14, 2010
United Guaranty First-Quarter Numbers Show Profit
After three years being pushed far into the red by the collapse of the U.S. housing market, United Guaranty managed to earn a profit in the first quarter. The Greensboro-based mortgage insurer, which is owned by AIG, posted an operating profit of $73 million for the quarter, after having lost $483 million in the same quarter a year earlier. Read more: United Guaranty first-quarter numbers show profit - The Business Journal of the Greater Triad Area
Bloomberg.com, May 10, 2010
AIG’s Mortgage Unit Posts First Profit Since 2007
American International Group Inc.’s mortgage guarantor posted a quarterly profit for the first time in three years on an improving U.S. default rate, aiding the bailed-out insurer’s recovery.