Mortgage Insurance

MBIA Inc just posted an unexpected Q2 gain today becoming the second bond insurer who used a 1 year old accounting rule to it’s full advantage. Analysts were expecting a loss of $1.37 a share but after the accounting shenanigans MBIA posted a gain of $7.41 a share.
I wrote how Ambac earlier [...]

Triad Guaranty (Nasdaq: TGIC), a private mortgage insurer, lost $198.8 million in the second quarter. TGIC has lost a total of $348.8 million in 2008.
This drastic lost is even more shocking when you compare it to the fact TGIC posted a gain of $12 Million just a year ago.
That’s the problem with mortgage insurance…once [...]

Financial Title owned by parent company, Mercury Companies Inc. are ceasing operations in California. The Financial Title closings come after another title subsidiary, Alliance Title, closed all California offices in May.
According to Jim hailbun, President of United Title of Texas who said in the San Jose Business Journal,
“Mercury is closing all of its companies outside [...]

United Title owned by Colorado parent company, Mercury Companies Inc. are in trouble again. This time it will mean closing of some Texas offices after a big batch of California closings a few months back.
If we remember back in May, Mercury Companies closed title offices in California under the name Alliance Title putting 2,000 [...]

Mortgage Insurance giants PMI, MGIC, and Radian, are on the verge of collapse as claims surge. Mortgage insurance companies stock losses are the possible trigger to another stock market crash.
Mortgage Insurance Company Demise Discussed
New York Governor and former consumer champion, Eliot Spitzer discuss the demise of the big mortgage and bond insurance companies on [...]

Title insurance is important when buying a home since it involves researching the public record to determine you’ll have all the ownership rights once you close.
The title insurance is in place in case a mistake was made in the title search and a person comes forward with a legitimate claim of ownership to your home. [...]

Private mortgage insurance or PMI is an insurance policy that protects the lender from loss on mortgages with less than 20% equity in the event of foreclosure…and you pay for it!
Don’t confuse hazard or homeowner’s insurance protects you from a loss like a fire with private mortgage insurance. PMI protects the lender [...]

Hazard insurance covers replacement costs for damages caused by fire, wind or disaster that might affect thevalue of the home. Hazard insurance also includes liability and theft coverage.
Hazard Insurance
A hazard insurance policy is a package policy that combines more than one type of insurance coverage in a single policy.
There are four types of coverages [...]