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Enact Holdings, Inc. (ACT) provides essential mortgage insurance services that stabilize the U.S. housing market by transferring credit risk from lenders. This page serves as your definitive source for official company announcements and market-moving developments.
Access curated updates including earnings reports, regulatory filings, and strategic initiatives that demonstrate ACT's underwriting expertise. Investors gain critical insights into risk management practices influencing the residential mortgage sector.
Discover press releases about leadership changes, product innovations, and partnerships that shape ACT's position in housing finance. All content is verified for accuracy, helping stakeholders make informed decisions without promotional bias.
Bookmark this page for streamlined access to ACT's evolving role in mortgage guaranty insurance. Check regularly for updates that matter to lenders, investors, and housing market participants.
Enact Holdings, Inc. (Nasdaq: ACT) has integrated its offerings with Vesta, a mortgage loan origination system. This new partnership allows Enact customers to access rate quotes and order mortgage insurance directly through Vesta's platform. The move aims to enhance the customer experience by enabling lenders to operate more efficiently and profitably. Enact's Chief Customer Experience Officer emphasized the company's commitment to providing competitive rates and support to lender partners. Vesta's CEO noted that this integration aims to streamline the mortgage insurance process for lenders.
Enact Holdings (Nasdaq: ACT) has integrated with Blend, enhancing the mortgage process by allowing lenders to access private mortgage insurance (PMI) rate quotes seamlessly through Blend's digital platform. This integration aims to improve the efficiency of mortgage transactions, enabling lenders to work within familiar technology. Enact emphasizes its commitment to customer experience and technology partnerships to meet varied needs in the industry. Blend's platform is currently utilized by over 300 clients, processing more than $5 billion in loans daily, demonstrating its significant role in modern banking.
Enact Holdings, Inc. (Nasdaq: ACT) announced the lifting of GSE Conditions from Fannie Mae and Freddie Mac, effective March 1, 2023. This follows the satisfaction of conditions imposed after Enact's August 2020 senior notes issuance. CEO Rohit Gupta stated that this confirmation enhances the company’s financial flexibility and competitiveness by removing stricter capital requirements compared to peers. The company believes this will positively impact its operational performance moving forward.
For more details, see the 2022 10-K filing on their website.
Enact Holdings, Inc. (Nasdaq: ACT) has secured approximately $180 million in excess of loss reinsurance coverage, enhancing its capital efficiency and risk management strategy for the 2023 insurance book year. This credit risk transfer (CRT) transaction, effective January 1, 2023, covers a portion of expected new insurance policies. The reinsurers involved have ratings of “A-” or better. Enact's successful CRT program has executed around $4.7 billion in such transactions since 2015, demonstrating its commitment to helping individuals achieve homeownership while maintaining financial strength.
Enact Holdings, Inc. (Nasdaq: ACT) has announced an integration with Polly, enhancing its private mortgage insurance offerings. This partnership allows lenders to access Enact's rate quotes through Polly's advanced product and pricing engine (PPE), streamlining the mortgage process.
Neenu Kainth, Enact's Chief Customer Experience Officer, emphasized the importance of accommodating diverse customer needs. Both companies aim to improve lender efficiency and profitability, supporting the democratization of pricing in the mortgage capital markets.
Enact Holdings, Inc. (Nasdaq: ACT) has appointed Jerome Upton to its Board of Directors, enhancing the board's expertise in mortgage insurance. Upton brings significant experience from Genworth, where he held roles including Senior Vice President and Chief Financial Officer. His knowledge in international mortgage insurance is expected to strengthen Enact's governance. Upton's appointment follows Genworth's recent restructuring, which separated the roles of CFO and Chief Investment Officer, further indicating a focus on specialized leadership. Enact aims to positively impact homeownership and maintain a strong financial foundation.
Genworth Financial, Inc. (NYSE: GNW) announced a ratings upgrade from Moody's, with the company's senior unsecured debt rating for Genworth Holdings, Inc. raised to Ba1 from Ba2. This upgrade signifies a one-notch improvement and reflects Genworth's efforts in enhancing its financial standing. The outlook remains stable. CEO Tom McInerney expressed satisfaction with the upgrade, highlighting the company’s commitment to growth initiatives and shareholder returns. Notably, the Insurer Financial Strength ratings for Genworth’s life insurance subsidiaries were unaffected by this upgrade.
Enact Holdings, Inc. (Nasdaq: ACT) has received a significant upgrade from S&P Global Ratings, with its insurance subsidiary's long-term financial strength rating raised to BBB+ from BBB, while the issuer credit rating for Enact Holdings increased to BB+ from BB. This marks the second upgrade since the company's IPO, highlighting its strong performance and capital position. CEO Rohit Gupta emphasized that these upgrades reflect Enact's improved market position and execution of its strategic plans, reinforcing its financial stability and flexibility.
Genworth Financial, Inc. (NYSE: GNW) announced a credit rating upgrade from S&P Global Ratings, elevating its issuer credit ratings from B+ to BB-. The stable outlook reflects the company's improved liquidity and a robust balance sheet. CEO Tom McInerney indicated that this upgrade enhances financial flexibility, allowing for investment in growth initiatives and capital returns to shareholders. Notably, the financial strength ratings of Genworth’s life insurance subsidiaries remain unchanged. Additional insights can be found in the credit opinion published on February 16, 2023.
