AdvisorShares Vice ETF (00LH)

Overview

Enact Holdings, Inc. is a notable player in the U.S. private mortgage insurance industry, focusing on providing residential mortgage guaranty insurance. Originating as Genworth Mortgage Holdings, Inc., the company underwent a rebranding to Enact Holdings, Inc. in May 2021, marking a new chapter in its history since its establishment in 1981. With its headquarters located in Raleigh, North Carolina, Enact Holdings stands as a testament to the evolving landscape of mortgage insurance in the United States. Operating under the umbrella of Genworth Holdings Inc., Enact Holdings has carved a niche for itself by catering to the needs of originators of residential mortgage loans, thereby playing a critical role in the housing finance sector.

Products and Services

Enact Holdings, Inc. offers a diverse suite of products and services designed to meet the varying needs of the mortgage industry, including:

• Private Mortgage Insurance Products: Primarily focusing on insuring prime-based, individually underwritten residential mortgage loans, these products are essential in enabling homeownership by providing insurance coverage that mitigates the risk lenders face in the event of borrower default. The emphasis on prime-based loans signifies a commitment to maintaining high underwriting standards.
• Contract Underwriting Services: This service aids mortgage lenders by offering underwriting expertise, which is crucial for assessing borrower eligibility and managing risk. By outsourcing underwriting functions to Enact, lenders can streamline their processes, benefiting from the company's extensive experience and risk management capabilities.
• Mortgage-Related Reinsurance Products: These products provide an added layer of security for mortgage lenders, offering financial protection against losses. This reinsurance service demonstrates Enact Holdings' role in supporting the stability and health of the broader mortgage and housing finance system.