Items Tagged with 'Ken Jones'

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  • FGMC fills two executive positions

    First Guaranty Mortgage Corp. added two new people to its leadership team, naming Doug Harris and Ken Jones as senior vice president of risk management and senior vice president of mortgage banking and warehouse lending, respectively.
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  • Triad Guaranty Loses $360m for Q209

    Triad Guaranty [stock TGIC][/stock], the mortgage insurer, reported a $359.4m net loss for Q209, compared to a net loss of $55.2m for Q109. Ken Jones, CEO of Triad, points to a decline in cure rates on default loans and severe settled losses that swelled Triad’s loss reserves for the second quarter, according to the report.
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  • Mortgage Insurer Losses Narrow

    Mortgage insurer Triad Guaranty [stock TGIC][/stock] lost a net $55.2m -- or $3.68 per share -- in Q109, narrowed from the $122.2m in the previous quarter. The trend might not continue in the face of a growing number of mortgage defaults, however, despite the new limit on payable claims in the insured portfolio--which helps Triad stretch capital further but hurts servicers that now will only receive back a fraction of claims filed.
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  • Mortgage Insurance Woes Grow for Fannie, Freddie

    Imagine paying full premium for an insurance contract, and receiving only 60 percent on any claim you make -- that's the unsavory situation now being faced by both Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock], as well as a bevy of private-market lenders, on their mortgage insurance contracts with troubled mortgage insurer Triad Guaranty Inc. [stock TGIC][/stock].
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  • Losses Widen at Triad, as Paid Claims Jump

    Mortgage insurer Triad Guaranty Inc. [stock TGIC][/stock], who put its portfolio into run-off in July after ratings downgrades, said Monday evening that it lost $160.1 million during the third quarter, or $10.69 per share. The loss came amid rising delinquencies and increasing paid claims on mortgages the company had insured; net paid claims rose sharply to $59.4 million in Q3, Triad said, versus $28.5 million one year earlier.
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