Mortgage insurer United Guaranty, a subsidiary of American International Group, is bracing for growth in mortgage underwriting demand, prompting it to open a new office in Las Vegas.
The company’s Las Vegas location is expected to house 35 employees and is designed to meet the demand for United Guaranty to underwrite full files for mortgage insurance within 24-hour time frames.
The office also will house loan registration staff. Currently, the company has underwriting offices in Greensboro, N.C.; Bellevue, Wash.; Oak Brook, Ill.; and Atlanta.
"In light of emerging positive trends in home sales, it’s important that our skilled underwriters are located to serve lenders in all regions," said Michael Hitt, United Guaranty’s vice president of insurance operations. "There’s no change in the process for our customers. They will continue to contact their dedicated customer support team for our usual fast turnaround and thorough underwriting."