Markets

Genworth shares are taking a hit

Shares in Genworth Mortgage Insurance fell hard after the company issued a profit warning. A short time ago, they were down 5.6% to $2.945. Genworth says net earned premiums are expected to be 17% to 19% lower than 2016, instead of the previous guidance of a 10% to 15% fall. […]
Genworth shares are taking a hit
Markets

CHART: Tighter lending for property is crushing mortgage insurance

Australia’s mortgage insurance business is taking a hit because banks and other lenders are taking a more conservative approach to mortgages. Genworth just released its quarterly update, showing a sharp fall in new business. There are fewer high loan-to-valuation loans being approved, those for which banks require mortgage insurance. A […]
CHART: Tighter lending for property is crushing mortgage insurance