A mortgage insurance company that is not quite four years old is touting a milestone in the number of lender clients it has reached.
National Mortgage Insurance Corp.
started its journey in April 2012 when it raised $550 million through a common stock offering.
After obtaining required approvals and setting up shop, the
Emeryville, California-based firm insured its first mortgage in April 2013.
By August 2015, staffing at National M.I. had reached 222 employees.
On Thursday, the mortgage insurer announced it has now added more than a thousand clients since insuring its first loan.
“We have come a long way in three years, thanks to the outstanding efforts of our employees and the growing appreciation by customers of our unique value proposition,” National M.I. Chief Executive Officer Bradley Shuster stated in the news release.
Shuster added, “We tripled our market share in 2015 and we were the only mortgage insurer that consistently grew NIW every quarter in 2015.”
