Old Republic is a title insurance company doing business in Florida. Old Republic may have other business interests however, for this article, we are looking at Old Republic’s subsidiary Republic Mortgage Insurance Company. See full copy at The Property Patrol.
Started in 1972 Republic Mortgage Insurance Company claims they protect lenders across the United States from losses due to defaults on first mortgages for single-family residential properties. Head-quartered in Winston-Salem, North Carolina, RMIC is an independent national provider of private mortgage insurance for first mortgage loans. It appears RMIC has over exposed themselves in Fannie Mae and Freddie Mac mortgages.
The Florida division of Republic Mortgage Insurance of Florida has been down-graded in their financial strength to an (E) rating. Financial ratings are based on an (A) being the best and an (F) as a failed institution. So a rating of an (E) is the last step before failure.
In American housing, the chart below shows what areas Old Republic is exposed and Republic Mortgage Insurance Company is included in the chart calculations.