0 minute readGenworth Financial expects its US mortgage insurance business to return to profitability over the next several quarters, chairman and chef executive officer Michael Fraizer told stockholders at their annual meeting today. Later, he said Genworth expects the mortgage insurance operation to be consistently profitable by the middle of 2011. He said results continue to improve, though housing markets still haven’t fully recovered.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio