Senate Democrats Pressure United Guaranty To Do the Right Thing on HARP 2.0 Changes
July 5, 2012
A trio of Senate Democrats is squeezing the only private mortgage insurer not fully onboard with the Obama administrations recent enhancements to the Home Affordable Refinance Program. Last week, Sens. Barbara Boxer, D-CA, Robert Menendez, D-NJ, and Herb Kohl, D-WI, dispatched a critical letter to United Guaranty Corp. CEO Kim Garland. The letter came attached with a set of eight questions for the MI and a less than subtle hint that the mortgage-insurance unit of Ameri-can International Group Inc. should get with the program just like everybody else. Despite the industry consensus that removing...