Enact Holdings, Inc. Stock Price, News & Analysis

Genworth Financial, Inc. (NYSE: GNW) will release its first quarter earnings results on May 3, 2023, after market close. A conference call is scheduled for May 4, 2023, at 9:00 a.m. (ET) to discuss the results. Interested parties can access the earnings release, summary presentation, and financial supplement via the company's website.

Additionally, Genworth’s subsidiary Enact Holdings, Inc. (Nasdaq: ACT) will hold a conference call earlier on May 4, 2023, at 8:00 a.m. (ET) to discuss its quarterly results. Registration for the calls is encouraged at least 15 minutes prior.

Enact Holdings, Inc. (Nasdaq: ACT) will issue its first quarter earnings release after the market closes on May 3, 2023. A conference call to review these financial results is scheduled for May 4, 2023, at 8:00 a.m. ET. Investors can access the earnings release, presentation, and financial supplement on the company's website.

Participants interested in the live Q&A session must pre-register to obtain a dial-in number and unique PIN. A live webcast will also be available for those who do not wish to ask questions, and it will be archived for one year on the company’s website.

Enact Holdings, Inc. (Nasdaq: ACT) has integrated its offerings with Vesta, a mortgage loan origination system. This new partnership allows Enact customers to access rate quotes and order mortgage insurance directly through Vesta's platform. The move aims to enhance the customer experience by enabling lenders to operate more efficiently and profitably. Enact's Chief Customer Experience Officer emphasized the company's commitment to providing competitive rates and support to lender partners. Vesta's CEO noted that this integration aims to streamline the mortgage insurance process for lenders.

Enact Holdings (Nasdaq: ACT) has integrated with Blend, enhancing the mortgage process by allowing lenders to access private mortgage insurance (PMI) rate quotes seamlessly through Blend's digital platform. This integration aims to improve the efficiency of mortgage transactions, enabling lenders to work within familiar technology. Enact emphasizes its commitment to customer experience and technology partnerships to meet varied needs in the industry. Blend's platform is currently utilized by over 300 clients, processing more than $5 billion in loans daily, demonstrating its significant role in modern banking.

Enact Holdings, Inc. (Nasdaq: ACT) announced the lifting of GSE Conditions from Fannie Mae and Freddie Mac, effective March 1, 2023. This follows the satisfaction of conditions imposed after Enact's August 2020 senior notes issuance. CEO Rohit Gupta stated that this confirmation enhances the company’s financial flexibility and competitiveness by removing stricter capital requirements compared to peers. The company believes this will positively impact its operational performance moving forward.

For more details, see the 2022 10-K filing on their website.

Enact Holdings, Inc. (Nasdaq: ACT) has secured approximately $180 million in excess of loss reinsurance coverage, enhancing its capital efficiency and risk management strategy for the 2023 insurance book year. This credit risk transfer (CRT) transaction, effective January 1, 2023, covers a portion of expected new insurance policies. The reinsurers involved have ratings of “A-” or better. Enact's successful CRT program has executed around $4.7 billion in such transactions since 2015, demonstrating its commitment to helping individuals achieve homeownership while maintaining financial strength.

Enact Holdings, Inc. (Nasdaq: ACT) has announced an integration with Polly, enhancing its private mortgage insurance offerings. This partnership allows lenders to access Enact's rate quotes through Polly's advanced product and pricing engine (PPE), streamlining the mortgage process.

Neenu Kainth, Enact's Chief Customer Experience Officer, emphasized the importance of accommodating diverse customer needs. Both companies aim to improve lender efficiency and profitability, supporting the democratization of pricing in the mortgage capital markets.

Enact Holdings, Inc. (Nasdaq: ACT) has appointed Jerome Upton to its Board of Directors, enhancing the board's expertise in mortgage insurance. Upton brings significant experience from Genworth, where he held roles including Senior Vice President and Chief Financial Officer. His knowledge in international mortgage insurance is expected to strengthen Enact's governance. Upton's appointment follows Genworth's recent restructuring, which separated the roles of CFO and Chief Investment Officer, further indicating a focus on specialized leadership. Enact aims to positively impact homeownership and maintain a strong financial foundation.