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Old Republic International Corporation Message Board

  • paidbasher38291 paidbasher38291 Jan 28, 2011 1:12 PM Flag

    Is ORI Illegally Selling Mortgage Insurance?

    on the call a question came up about the 28:1 ratio, and they answered that their state (NC) gave them a waiver from the 25:1 limit, and other states are honoring it, I don't think so, some states have no discretion on the 25:1 ratio, it is written into law, otherwise, why did all their competitors, mtg, gnw, pmi, etc, go through the trouble of setting up subsidiaries to get around the 25:1 limitation, my guess is their competitors are on the phone right now to various state regulators to get ori to cease and desist, bottom line is sooner or later the MI company is going to need more capital, capital that otherwise would have gone to pay the dividend, a dividend cut is inevitable imho.

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