MGIC Comments on the Recently Adopted PMIERs Updates [Yahoo! Finance]
MGIC Investment Corporation (MTG)
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Source: Yahoo! Finance
Corporation (NYSE: MTG), comments on the updates by the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to the Private Mortgage Insurer Eligibility Requirements (PMIERs) Available Assets Standards. "We are proud of the critical role private mortgage insurance (MI) plays in the housing finance system. PMIERs operational and risk-based capital requirements provide a strong foundation to serve low down payment borrowers while protecting the GSEs and taxpayers from undue mortgage credit risk and private MIs continue to be strong, well-capitalized counterparties," said Tim Mattke , CEO of MTG. "We appreciate the collaboration with the GSEs and support prudent PMIERs changes," added Mr. Mattke. The latest updates relate to exclusions, concentration limits, and haircuts to investments that qualify as Available Assets and will be implemented over a 24-month phased-in period, with a fully effective date of September 30, 2026 . If these changes were effective as of June
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MTG
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- 11/4/24 - Form 8-K
- 10/17/24 - Form SC
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