- Resolving successfully the North Carolina regulatory supervision, including full settlement of accumulated deferred claim payments held in reserve;
- Enabling Fannie Mae, Freddie Mac and other insured lenders to collect 100% of the deferred claim payments together with an agreed-upon interest charge. Such a charge could be material to RMICC's results of operations and shareholders' equity when it is recorded following approval of the NCDOI and the successful completion of the capital raise.
- Creating a well capitalized platform for RMICC, thereby demonstrating a commitment to all of its insurance subsidiaries' policyholders to grow a successful mortgage guaranty insurer in their interests and those of a new shareholder group; and
- Effecting a full and fair exit from the mortgage insurance market for ORI and its shareholders, thus allowing the Company to move forward with a clear focus on its core General and Title Insurance operations.
Old Republic Announces A Plan Of Recapitalization By Its RMICC Mortgage Guaranty Subsidiary
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