In FY20 71% of GMA’s New Insurance Written (NIW) was in the 80-90% range of loan-to-value ratios.
Just under half of 80-90% loan-to-value policies are in the 80-85% range, and around a third of Gross Written Premium (GWP) comes from 80-85% loan-to-values.
The value proposition to mortgage borrowers is that a higher interest rate is cheaper over the typical 5-7 year life of a mortgage - relative to a Lender’s Mortgage Insurance (LMI) premium.
As such, current GMA customers (lenders) who similarly offer LMI waivers could put at risk up to a third of GMA’s GWP - or approximately $45m of 1q21’s reported GWP of $142.7m.
In FY20 71% of GMA’s New Insurance Written (NIW) was in the...
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$3.84 |
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