Market Conditions Pressuring Leading Mortgage Insurer As Premiums Slide 20%

In further evidence that lending policies are tightening, online industry magazine, Mortgage Business, today reported:

“Mortgage insurer Genworth has conceded that tightened lending conditions and a lower LVR (Loan to Value Ratio) mix are impacting the group’s gross written premiums.

In its third-quarter trading update Genworth recorded a 20.8 per cent fall in gross written premiums (GWP) from the third quarter of 2014 to the third quarter this year.”