Enact

What Enact does

Enact Holdings, Inc. (NASDAQ: ACT) is a U.S. private mortgage insurance company headquartered in Raleigh, North Carolina, that was spun off from Genworth Financial in 2021. The company underwrites private mortgage insurance primarily for residential loans with loan-to-value ratios above 80%, enabling lenders to originate mortgages with down payments as low as 3% and protecting lenders against default losses. Insurance is issued through two regulated subsidiaries, Enact Mortgage Insurance Corporation and Enact Mortgage Insurance Corporation of North Carolina (rated A- by AM Best), with ancillary contract underwriting services delivered via Enact Financial Services, Inc.

The core operating platform combines risk-based pricing (Rate360), an online MI rate quote tool (Rate Express), deep integrations with Loan Origination Systems, Product Pricing Engines, and Point of Sale platforms, plus specialized programs such as Peak Portfolio (portfolio loans up to $2.5 million) and HFA Programs. Enact also layers a suite of borrower benefit programs under the Ready. Set. Home. brand (Homebuyer Privileges, Home Suite Home, Homeowner Assistance) and the Discover360 content/training hub, which trains over 35,000 mortgage professionals annually. Distribution is delivered through a regional direct sales force, ActionCenter support, and dedicated HFA and credit union channels across the United States (excluding Guam, Puerto Rico, and the U.S. Virgin Islands).

Enact's revenue model is primarily recurring, driven by monthly, annual, and single-premium mortgage insurance premiums on its insured loan portfolio, supplemented by fee-based contract underwriting services. Q1 2026 revenue was $312.1 million and Q1 2026 new insurance written was $13 billion (up 30% year-over-year), with a PMIERs sufficiency ratio of 162% and approximately $500 million of planned capital returns to shareholders for 2026. Genworth Financial remains a significant shareholder, and Enact maintains diversified credit risk transfer through A-rated reinsurance partners.

Name

Enact

Legal name

Enact Holdings, Inc.

Website

https://enactmi.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

Enact Holdings is a U.S. private mortgage insurance company spun off from Genworth Financial in 2021 and listed on NASDAQ (ACT). It underwrites MI for high-LTV residential loans via regulated subsidiaries and serves mortgage lenders, HFAs, and credit unions through direct sales and technology integrations.

Ownership category

akta.pro rank

Product category

Mortgage Insurance

NAICS

Insurance Carriers (5241)

SIC

Surety Insurance (6351)

akta.pro primary industry

Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB)

Keywords

• Private mortgage insurance
• Mortgage risk management
• Lender credit protection
• Mortgage underwriting services
• Housing finance programs

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Mortgage Insurance Premiums: Recurring mortgage insurance premiums charged to lenders on insured loans. Premiums can be paid monthly, annually, or as single premiums. Revenue driven by new insurance written volume and persistency rates.
2. Single Premium MI: One-time premium payments for single premium mortgage insurance products, providing coverage for the life of the loan.
3. Contract Underwriting Services: Fee-based contract underwriting services provided to lenders, offering underwriting to agency/investor guidelines with competitive pricing.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Enact is a private mortgage insurance provider that issues mortgage guaranty insurance covering residential high-LTV loans (typically above 80% LTV), enabling mortgage lenders, Housing Finance Agencies, and credit unions to originate loans with borrower down payments as low as 3%. Policies are underwritten by Enact Mortgage Insurance Corporation and Enact Mortgage Insurance Corporation of North Carolina, with premiums paid monthly, annually, or as single premiums. Enact also provides fee-based contract underwriting services through Enact Financial Services, Inc., plus digital tools such as Rate Express, Rate360, MI Site, and a servicing portal, as well as the Peak Portfolio program for portfolio lenders.

Product overview

Enact is a private mortgage insurance provider offering a comprehensive platform of products and services. The core offering is mortgage insurance underwriting through Enact Mortgage Insurance Corporation and Enact Mortgage Insurance Corporation of North Carolina, enabling lenders to originate high-LTV loans. The platform includes digital tools (Rate Express for quotes, Rate360 for risk-based pricing), specialized programs (Peak Portfolio for portfolio loans, HFA Programs for housing finance agencies), and borrower benefit programs (Ready. Set. Home. encompassing Homebuyer Privileges, Home Suite Home, and Homeowner Assistance). Additional services include Contract Services Underwriting, MI Servicing portal, training resources, and the Discover360 expert insights blog.

Differentiator

Problem solved

Functional benefit

Brands

• Peak Portfolio: A legal entity created specifically for portfolio loans offering expanded MI underwriting guidelines up to $2.5 million loan amount for capital relief and reduced credit risk exposure.
• Ready. Set. Home.
• Homebuyer Privileges
• Home Suite Home
• Rate Express
• Discover360

Products and services

• Private Mortgage Insurance (MI) Private mortgage insurance underwritten by Enact Mortgage Insurance Corporation and Enact Mortgage Insurance Corporation of North Carolina, enabling lenders to offer high-LTV loans (typically above 80% LTV) to borrowers with down payments as low as 3%. Premiums paid monthly, annually, or as single premiums. Protects lenders against default losses.
• Rate Express Online MI rate quote tool enabling lenders to obtain quick and accurate mortgage insurance premium quotes in real time, supporting rate cards and risk-based pricing workflows.
• Rate360
• Peak Portfolio Dedicated legal entity and program specifically designed for portfolio lenders, offering expanded MI underwriting guidelines up to $2.5 million loan amount with capital relief and reduced credit risk exposure benefits.
• Housing Finance Agency (HFA) Programs
• Contract Services Underwriting
• MI Servicing
• Homebuyer Privileges
• Home Suite Home
• Homeowner Assistance
• Ready. Set. Home.
• Training Resources

Quantifiable outcome

• Q1 2026 new insurance written of $13 billion, up 30% year over year
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Seniorly, Inc.minorStrategic or Co-development Partner · 5 May 2026Genworth Financial acquired Seniorly, Inc. for $15 million as part of its strategy to expand the CareScout platform and integrated care services. While this is a Genworth acquisition, it reflects the parent company's broader strategic direction affecting the Enact relationship.
• NextJobminorStrategic or Co-development PartnerEnact partners with NextJob, a nationwide reemployment solutions company, to provide unemployed or underemployed borrowers with career resources during job searches. Enact pays for the cost of NextJob services as part of the Homeowner Assistance program.
• Fannie MaecoreTechnology or IntegrationFannie Mae is a major beneficiary of Enact's mortgage insurance coverage. Enact shares borrower data with Fannie Mae in the course of administering insurance coverage for loans where Fannie Mae is the beneficiary. Also integrates with Fannie Mae's Desktop Underwriter for loan eligibility.
• Freddie MaccoreTechnology or IntegrationFreddie Mac is a major beneficiary of Enact's mortgage insurance coverage. Enact shares borrower data with Freddie Mac in the course of administering insurance coverage for loans where Freddie Mac is the beneficiary. Also integrates with Freddie Mac's Loan Product Advisor for loan eligibility.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Others

• Fannie Mae: Fannie Mae is a GSE that defines eligibility rules and is the largest beneficiary of U.S. private MI coverage. Not a competitor, but a critical counterparty whose credit-fee and capital policies directly shape Enact's addressable market.
• Genworth Financial: Genworth Financial is Enact's parent company and a long-term-care insurance and MI legacy carrier. Comparable as the originating entity and capital backer, though Genworth's strategic focus is broader than Enact's MI-only mandate.
• First American Financial Corporation: First American is a title insurance and real-estate data company that provides LOS and technology integrations referenced by Enact. Comparable as an ecosystem participant in residential mortgage finance rather than a direct MI competitor.
• Freddie Mac: Freddie Mac is the second major U.S. GSE and a primary beneficiary of private MI on conforming high-LTV loans. Its Loan Product Advisor integration and capital standards are core to Enact's go-to-market.
• Ellie Mae (ICE Mortgage Technology): Ellie Mae provides the Encompass loan origination system that Enact integrates with for MI ordering. Comparable as a key distribution infrastructure partner in the residential mortgage workflow.

Direct peers

• Radian Group: Radian is a direct competitor in U.S. private mortgage insurance, with comparable lender distribution, MI products, and capital-return programs. Also offers mortgage title and real-estate services.
• Arch Capital Group (Arch MI): Arch Mortgage Insurance is the U.S. private MI arm of Arch Capital Group, providing direct competition in residential mortgage insurance. Comparable product suite and underwriting framework, with broader corporate balance-sheet backing.
• Essent Group: Essent is a U.S. private mortgage insurer with a similar focus on high-LTV residential MI, integrated lender solutions, and disciplined capital returns. Direct product overlap with Enact's core monthly and single-premium MI.
• MGIC Investment Corporation: MGIC is one of the largest U.S. private mortgage insurers, directly competing with Enact on monthly, single, and lender-paid MI products for high-LTV residential loans. Closest publicly-traded peer on product mix and lender base.
• NMI Holdings (National MI): NMI Holdings is a U.S. private mortgage insurance underwriter serving residential lenders with comparable products, including portfolio MI solutions. Direct competitor with overlapping lender relationships and similar business model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/EnactMI
• LinkedInlinkedin.com/company/enact-mortgage-insurance
• Xx.com/EnactMI

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enact