Mortgage insurer NMI Holdings files for IPO
Bets on housing market rebound
NMI Holdings Inc, a mortgage insurer backed by funds tied to Carlyle Group LP and Kyle Bass, filed an initial public offering as investors bet on a housing market rebound. Per Bloomberg:
FBR & Co. is leading the sale, according to a regulatory filing today from Emeryville, California-based NMI. The company said it’s seeking to raise $25 million, a placeholder amount used to calculate registration fees, according to the document.
“As the U.S. housing market continues to recover, the demand for private capital to insure mortgage risk and to facilitate secondary market loan sales will grow,” NMI said in the filing.