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Company Profile

 

RMIC protects lenders from losses due to defaults on first mortgages for residential properties. Since beginning operating in 1972, we typically insured loans for the purchase or refinancing of homes when the amount borrowed exceeded 80% of the property's value. With the collapse of the housing and credit markets, the business shifted into a run off operating mode in 2011.  While RMIC has discontinued writing new insurance, we continue to support our customers and our in-force book of policies.  We continue to maintain all systems, processes, and contact points for policy servicing, loss mitigation, and claims operations. This includes participation in HARP.

RMIC is a subsidiary of Old Republic International Corporation (NYSE: ORI). Old Republic traces its beginnings to 1923, although several acquired subsidiaries began operations much earlier. The Company is one of America’s 50 largest shareholder-owned insurance businesses. It is primarily a commercial lines underwriter serving the insurance needs of a large number of organizations, including many of America’s leading industrial and financial services institutions. Its subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages, mostly in the general and title insurance fields. A long-term interest in the mortgage guaranty and consumer credit insurance lines has devolved into a run-off operating mode in recent years.

For the beneficiaries of their insurance products and services, Old Republic’s insurance subsidiaries provide quality assurance of the promises they make. For employees, the Company offers an environment of success in which they can pursue personal goals of professional and economic achievement in the context of Old Republic's business objectives.

For additional information visit www.oldrepublic.com.  

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