Enact Mortgage Insurance

What Enact Mortgage Insurance does

Enact Mortgage Insurance is a US mortgage insurance provider that insures high loan-to-value (LTV) residential mortgages, enabling lenders to offer financing to borrowers with down payments below 20%. Operating through Enact Mortgage Insurance Corporation and Enact Mortgage Insurance Corporation of North Carolina (both subsidiaries of publicly traded Enact Holdings, Inc., NASDAQ: ACT), the company traces its roots to Genworth Mortgage Insurance and rebranded to Enact in conjunction with its 2021 IPO. The firm is headquartered in Raleigh, North Carolina, employs 251–500 people, and operates exclusively in the United States (excluding Guam, Puerto Rico, and the U.S. Virgin Islands).

The company's core technology stack centers on a mortgage insurance underwriting and risk-management platform with digital quote capabilities (Rate Express), risk-based pricing via Rate360, MI certificate and claims management through its servicing portal, and integrations with major loan origination systems (LOS), point-of-sale (POS) platforms, and product pricing engines (PPE) including Loan Product Advisor and Desktop Underwriter. Product offerings span monthly and single-premium borrower-paid MI, lender-paid MI (LPMI), the Peak Portfolio program for portfolio lenders (expanded guidelines up to $2.5 million), the Ready. Set. Home. borrower benefits suite (Homebuyer Privileges, Home Suite Home, Homeowner Assistance), and contract and delegated underwriting services. Content, training, and economic insights are delivered through the Discover360 content hub and the training portal.

Enact's revenue model is built on recurring and transaction-based mortgage insurance premiums (monthly, single, and lender-paid), with supplemental income from credit-risk-transfer reinsurance arrangements (notably a $170M Forward XOL transaction effective January 1, 2027). Distribution combines a US-wide field sales organization, an inside-sales ActionCenter (800-444-5664), and digital self-serve through Rate Express. Customer segments include large and mid-sized mortgage lenders, loan officers and processors, loan servicers, credit unions, housing finance agencies, and portfolio lenders. As of Q1 2026, Enact reported GAAP net income of $168 million ($1.18 per diluted share) and adjusted operating income of $172 million ($1.21 per diluted share), PMIERs capital sufficiency of 162% ($1.9B above requirements), a 14% dividend increase, and approximately $93 million in share repurchases.

Name

Enact Mortgage Insurance

Legal name

Enact Mortgage Insurance Corporation

Website

https://enactmi.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

251–500 employees

Short description

Enact Mortgage Insurance is a US mortgage insurance provider (operating subsidiary of NASDAQ-listed Enact Holdings/ACT) that insures high-LTV residential mortgages for lenders, credit unions, and portfolio lenders. It earns revenue from MI premiums, credit-risk-transfer reinsurance, and contract underwriting, distributed via field sales, ActionCenter, and the Rate Express digital platform.

Ownership category

akta.pro rank

Product category

Mortgage Insurance

NAICS

Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Mortgage Default Insurance & Loss Mitigation Services (Claims, Recoveries, MI Servicing) (FSALAJAH)

akta.pro secondary industries

Product, Pricing & Eligibility (PPE) / Rate Lock & Pricing Engines (FSALALAC), Loss Mitigation & Home Retention Servicing (Modifications/Forbearance/Repayment Plans) (FSALAEAG)

Keywords

• Mortgage insurance
• Private MI
• Lender services
• MI underwriting
• Credit risk transfer

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: Enact earns premium revenue from providing mortgage insurance on high LTV loans. Premiums can be paid monthly by the borrower, as a single upfront premium, or as lender-paid mortgage insurance (LPMI). The insurance protects lenders against default losses on residential mortgages.
2. Credit Risk Transfer (Reinsurance): Enact transfers credit risk through reinsurance arrangements. In Q1 2026, the company secured approximately $170 million of additional reinsurance coverage effective January 1, 2027, covering expected new insurance written for the 2027 book year.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Enact Mortgage Insurance provides private mortgage insurance on high loan-to-value (LTV) residential mortgages, enabling borrowers to qualify for homeownership with down payments below 20%. The company underwrites and services MI policies for mortgage lenders, offering risk-based pricing through Rate Express and Rate360, and supports lenders with underwriting guidelines, delegated underwriting, contract underwriting, and claims management. Specialized portfolio loan coverage (Peak Portfolio) and borrower benefit programs (Ready. Set. Home., Homebuyer Privileges, Home Suite Home, Homeowner Assistance) round out the offering.

Product overview

Enact Mortgage Insurance operates as a mortgage insurance provider offering a comprehensive suite of products. The core offerings include Rate Express (online quote tool), MI Servicing (certificate and claims management), Underwriting Guidelines documentation, and Rate360 (risk-based pricing). The product portfolio includes specialized programs such as Peak Portfolio for portfolio loans with expanded guidelines up to $2.5 million, and Ready. Set. Home., a borrower benefits program that bundles Homebuyer Privileges (up to $8,500 in retailer discounts), Home Suite Home (appliance warranty, ID theft protection, deductible reimbursement), and Homeowner Assistance (job loss coaching). Additional offerings include Delegated Underwriting and Contract Services Underwriting programs, Self-Employed Borrower Tools, and Discover360 for industry insights and training resources.

Differentiator

Problem solved

Functional benefit

Brands

• RateExpress: Online rate quote platform for mortgage insurance
• Peak Portfolio
• Ready. Set. Home.
• Discover360
• Homebuyer Privileges
• Home Suite Home
• ActionCenter

Products and services

• Rate Express Online quote tool that enables lenders to quickly obtain mortgage insurance rate quotes and pricing based on loan parameters.
• Peak Portfolio Specialized mortgage insurance program for portfolio loans offering expanded underwriting guidelines up to $2.5 million loan amount, providing capital relief and reduced credit risk exposure for lenders holding loans in portfolio.
• Ready. Set. Home. Borrower benefits program combining education, savings, and protection features including Homebuyer Privileges, Home Suite Home, and Homeowner Assistance.
• Homebuyer Privileges Borrower benefit program offering up to $8,500 in discounts at major retailers, including 300,000+ offers from local and national retailers for appliances, furniture, and home security.
• Home Suite Home Borrower protection program providing no-cost coverage options including appliance warranty (up to $500/item), homeowner's insurance deductible reimbursement, or identity theft protection (up to $1 million).
• Homeowner Assistance Support program for borrowers facing financial hardship, providing job loss coaching through NextJob, proactive outreach programs, and door knock support.
• MI Servicing Platform for lenders to view and manage MI certificates, access billing, default servicing, delinquency reporting, and claims management.
• Rate360 Rate cards and risk-based pricing tool providing lenders with detailed MI pricing information and rate structures.
• Delegated Underwriting Program Program allowing approved lenders to underwrite loans on Enact's behalf following specific guidelines and program requirements.
• Contract Services Underwriting Contract underwriting services allowing Enact to underwrite loans on behalf of lenders for Peak Portfolio loans up to $1,000,000.
• Self-Employed Borrower Tools Calculator and worksheet tools designed to help self-employed borrowers document and verify their income for mortgage qualification.

Quantifiable outcome

• Up to $8,500 in homebuyer discounts through Homebuyer Privileges program
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Reinsurers (A-rated or better)coreStrategic or Co-development PartnerEnact has secured approximately $170 million of additional reinsurance coverage effective January 1, 2027, as part of its diversified credit risk transfer program. The reinsurance covers expected new insurance written for the 2027 book year. Participating reinsurers are rated 'A-' or better by Standard & Poor's or A.M. Best, or rated 'A3' or better by Moody's.
• Technology Partners (LOS/POS/PPE)coreTechnology or IntegrationEnact maintains integrations with major loan origination systems (LOS), point-of-sale platforms (POS), and product pricing engines (PPE) to enable seamless MI application submission and management. These integrations are listed on the Technology Partners page of the Enact website.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• MGIC Investment Corporation: MGIC is one of the largest US private mortgage insurers, providing mortgage insurance on residential loans with comparable underwriting, GSE-channel distribution, and product structure to Enact. Headquartered in Milwaukee and a long-standing direct competitor.
• Essent Group Ltd. Essent is a US-focused private mortgage insurance provider with a comparable lender-direct distribution model and capital-light reinsurance strategy, directly competing with Enact for high-LTV loan flow.
• Radian Group Inc. Radian is a major US private mortgage insurer offering MI on residential mortgages through lender channels, with a similar master-policy distribution model and reinsurance strategy to Enact.
• NMI Holdings (National MI): National MI is a private US mortgage insurance carrier offering similar master-policy MI products to lenders; competes head-to-head with Enact on pricing, delegated underwriting, and GSE-eligible loan flow.
• Arch Mortgage Insurance (Arch Capital Group): Arch MI is the US private mortgage insurance arm of Arch Capital Group, formed from United Guaranty and PMI. It offers comparable master-policy MI products and is one of Enact's primary competitors in lender relationships.

Broad incumbents

• Genworth Financial: Genworth was Enact's former parent company (MI was rebranded as Enact in 2021). Genworth now focuses on long-term care and life insurance but shares the legacy operating history and institutional mortgage insurance expertise with Enact.
• Federal Housing Administration (FHA): The FHA is the government mortgage insurance alternative; lenders frequently choose between FHA MI and private MI from Enact and its peers, making FHA volume mix a key industry-wide demand driver.

Others

• CoreLogic: CoreLogic provides real estate data, AVMs, and property analytics used by mortgage insurers including Enact for underwriting and risk management. A key ecosystem/enabling vendor rather than a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

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

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries4 records

Funding overview

Funding rounds

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 Mortgage Insurance