To participate in an expedited licensing pilot project
Essent Guaranty (Essent), a mortgage insurer founded to bring private capital to support America’s housing finance system, has been granted approval from the Pennsylvania Insurance Department to write mortgage insurance.
Essent has also been approved by a working group of the National Association of Insurance Commissioners (NAIC), to participate in an expedited licensing pilot project. The company is currently seeking approvals from other state insurance departments.
Mark Casale, president and CEO of Essent, said: “Approvals by the Pennsylvania Insurance Department and NAIC are critical milestones in the development of Essent’s mortgage insurance business, and we thank both the Department and the NAIC for their careful review and timely approval.”
The NAIC seeks to streamline state-specific application requirements, including the need for hard copies of forms and supplemental information involved in Uniform Certificate of Authority Applications (UCAA).