Fannie Mae Selects National MI to Insure $5B in Loans

Fannie Mae Selects National MI to Insure $5B in Loans

08/01/2013BY: ESTHER CHO

 

 

National Mortgage Insurance Corporation (National MI) announced Wednesday it will insure residential mortgages about $5 billion in  in its first risk transfer transaction with Fannie Mae.

National MI received the offer through a formal bid process to private mortgage insurers. According to a company release, Fannie Mae’s decision was based on the mortgage insurer’s favorable terms and conditions, and beneficial risk share attributes.

The Emeryville, California-based National MI is a newer company that was approved by the GSEs as a qualified mortgage insurer in January of this year and began writing business in April.

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