Genworth’s MI Division Could See Boost in Ratings as a Result of Firm’s Sale to Chinese Financial Conglomerate
October 27, 2016
An agreement by a Chinese international financial holding group to acquire Genworth Financial for approximately $2.7 billion, or $5.43 per share, would give China a foothold in the U.S. mortgage insurance market. Announced on Oct. 23 by Genworth, the sale follows the planned sale of market leader United Guaranty to Arch Capital Group, a global provider of mortgage insurance and reinsurance based in Bermuda. The entire Genworth family of companies, including the MI division, is...
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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