While the market for mortgage insurance might have taken a tumble in recent months, Reuters reports that Genworth’s Chief Financial Officer Patrick Kelleher believes that the market is going to be on the upswing in the near future.

Homeowners lured by overly low subprime mortgage rates caused mortgage insurers to take a massive hit in the last 18 months. But current mortgage rates have stabilized, lessening the chances of homeowners defaulting on their mortgages and having to foreclose and of mortgage insurers having to pay out hefty premiums to lenders.

"The value proposition of mortgage insurance has become more clear than ever," Kelleher said at an investor meeting held in New York by Keefe, Bruyette & Woods.

"We are encouraged by some of the dynamics in the mortgage insurance market," he added, after a nationwide contraction in the wake of the U.S. housing market downturn.

All Breakers specializes in hard-to-find circuit breakers including cutler hammer breakers, electrical distribution and control equipment.

No Comments

No comments yet.

RSS feed for comments on this post. TrackBack URL

Sorry, the comment form is closed at this time.