Genworth Mortgage Insurance Secures $300 Million of Additional Capital Protection; Comments on Amended PMIERs Requirements
Genworth Financial Inc (GNW)
Last genworth financial inc earnings: 10/29 05:10 pm
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Source: PR Newswire
RALEIGH, N.C., July 8, 2020 /PRNewswire/ -- Genworth Mortgage Insurance ("Genworth MI"), an operating segment of Genworth Financial, Inc. (NYSE: GNW), today announced the completion of an excess of loss reinsurance transaction with a panel of reinsurers covering a portion of the loss tier on subject loans written between 2009 and 2019 book years, effective April 1, 2020. The transaction provides reinsurance coverage in excess of the PMIERs capital requirements as of March 31, 2020 in response to an anticipated higher level of delinquencies as a result of COVID-19. As such, the company expects up to $300 million of additional PMIERs capital credit when required assets are in the covered tier, subject to GSE approval as part of their evaluation. Additionally, Genworth MI commented on the release of amendments to the Private Mortgage Insurer Eligibility Requirements (PMIERs) by Fannie Mae and Freddie Mac under the guidance of the Federal Housing Finance Agency (FHFA) on June 29, 2020,
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Sec Filings
- 4/17/24 - Form PX14A6G
- 4/11/24 - Form S-3ASR
- 4/8/24 - Form DEFA14A
- GNW's page on the SEC website