Republic Mortgage Insurance Company · Winston-Salem, NC United States
Company Description
Phone: 336-661-0015
Fax: 336-661-3275
Toll Free: 800-999-7642
View Republic Mortgage Insurance Company Locations On A US Map
This link will open in a new window
This link will open in a new window Republic Mortgage Insurance Company (RMIC) protects lenders from losses due to defaults on first mortgages for single-family residential properties. The company provides primary insurance coverage to more than 2,000 mortgage lenders throughout the US on loans in which the homebuyers paid a down payment of less than 20%. RMIC subsidiary Republic Strategic Advisory offers consulting services to the mortgage finance industry. The company also provides contract underwriting services. To reduce its risks, the company has modified the types of mortgages and properties it will insure. RMIC is a subsidiary of diversified insurance company Old Republic International . To read the full description, subscribe now.
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!
Key Republic Mortgage Insurance Company Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $471.1 |
| Employees | 425 |
Republic Mortgage Insurance Company Executives
44 executives listed for Republic Mortgage Insurance Company's Winston-Salem, NC location.
| Title | Name & Bio | Contact |
| Chairman | William Simpson | Network |
| Vice Chairman | Jimmy Dew | Network |
| President and CEO | Christopher Nard | Network |
Competition
Competitive Landscape for Republic Mortgage Insurance Company
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Republic Mortgage Insurance Company Competitors
Call Now at 866-464-3202 or Click here for a Free Hoover's Trial!