June 26, 2017 2:54 PM ET

Thrifts and Mortgage Finance

Company Overview of National Mortgage Insurance Corporation

Company Overview

National Mortgage Insurance Corporation provides private mortgage guaranty insurance services in the United States. The company is based in Emeryville, California. National Mortgage Insurance Corporation operates as a subsidiary of NMI Holdings, Inc.

2100 Powell Street

12th Floor

Emeryville, CA 94608

United States

Phone:

855-530-6642

Fax:

510-858-0341

Key Executives for National Mortgage Insurance Corporation

Chairman of The Board and Chief Executive Officer
Age: 61
Co-Founder, President and President of Nmi Holdings, Inc.
Chief Financial Officer
Age: 36
Chief Operating Officer
Age: 57
Executive Vice President and General Counsel
Age: 45
Compensation as of Fiscal Year 2016.

National Mortgage Insurance Corporation Key Developments

National Mortgage Insurance Corporation Promotes Julie Norberg to Controller

National Mortgage Insurance Corporation announced that effective June 1, 2017, Julie Norberg was promoted from vice president of planning and analytics to controller.

National MI Announces Pricing of $211.3 Million of 10-Year Mortgage Insurance-Linked Notes

NMI Holdings Inc. announced the pricing of $211.3 million of 10-year mortgage insurance-linked notes issued by Oaktown Re Ltd. The notes are being offered for sale to eligible third party capital markets investors in an unregistered private offering. In connection with the transaction, NMIH's wholly owned subsidiary National Mortgage Insurance Corporation (National MI) will receive $211.3 million of fully collateralized excess of loss reinsurance protection from Oaktown Re, covering an existing portfolio of mortgage insurance policies written from 2013 through 2016. The offering is expected to close on May 2, 2017, subject to customary conditions. Oaktown Re is not a subsidiary or affiliate of NMIH. The mortgage insurance-linked notes to be issued by Oaktown Re will consist of three classes as follows:$98,616,000 Class M-1 Notes with an initial interest rate of one-month LIBOR plus 225 basis points; $98,616,000 Class M-2 Notes with an initial interest rate of one-month LIBOR plus 400 basis points; and $14,088,000 Class B-1 Notes with an initial interest rate of one-month LIBOR plus 575 basis points.

National Mortgage Insurance Corporation Appoints Claudia Merkle as Chief Operating Officer

National Mortgage Insurance Corporation announced that Claudia Merkle has been named chief operating officer, effective September 12, 2016. Merkle will continue to report to CEO Bradley Shuster. Merkle has been with National MI since the company's inception in 2012 when she joined as senior vice president, underwriting and risk operations. In her new role as COO, Merkle will continue to lead underwriting, operations, servicing, sales, marketing, and business development.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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