National MI expands to all 50 states

by Ryan Smith17 Apr 2014
National Mortgage Insurance Corporation has just received its Wyoming insurance license, making the company licensed to write mortgage insurance in all 50 states, the company has announced.

“We are pleased that National MI is able to provide mortgage insurance to lenders offering loans to borrowers in Wyoming,” said Bradley Shuster, president and chief executive officer of NMI Holdings, Inc. “The approval by the Wyoming Department of Insurance marks a significant milestone for National MI as we are now able to provide mortgage insurance in every state in the U.S., as well as the District of Columbia. We believe this is especially important to our customers who do business nationwide.”

National MI said that Wyoming’s approval would help expand mortgage availability in the state, since private mortgage insurance is typically required on mortgages with loan-to-value ratios greater than 80%.

“National MI commends the Wyoming Department of Insurance for acknowledging the importance of private mortgage insurance and the role it plays in broadening home ownership opportunities for Americans,” Shuster said.



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