JPMorgan, Goldman Seek Profit Amid Insurer ‘Distress’
October 8th, 2009
“While we are not calling for a complete demise of the mortgage-insurance sector, we have seen some signs that not all” current mortgage insurers are needed to write new policies, Haines said.
Mortgage insurers pay lenders when homeowners fail to meet their obligations and foreclosure doesn’t cover costs. Borrowers may be required to purchase the coverage if they pay less than 20 percent of a home’s value when they obtain a mortgage.
Related posts:
- Freddie Mac, Non-Profit Groups Team Up to Help Discouraged Borrowers Pursue Loan Modifications
- Ambac shares surge 71% after insurer posts quarterly profit
- BarCap Sees ‘Limited Use’ of Fannie’s Deed-for-Lease Program
- JPMorgan Earnings Soar as It Finds Profit in Slump
- JPMorgan to Sell $716.3 Million of Mortgage Bonds
Posted in Implode