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PMI Group Inc. Message Board

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  • paidbasher38291 paidbasher38291 Dec 17, 2009 11:45 AM Flag

    RAMR annual meeting

    so you want to change the subject because you realize you were wrong about the language ramr used, they were clearly talking about a sale of ramr shares, not an acquisition of pmi, on that topic, even if what your say was accurate, which it is not but i don't care to debate your silly suggestion of principal forgivess on mi loans, why wouldn't an insurer just start up a de-novo mi business, like essent, and/or strike a deal with aig to buy their company less the existing book, or try to pull a deal like triad and lightyear tried, because the bottom line is no one wants to take over the responsibility of the existing books, not only because of the huge unknown losses, but also the liability, you do realize that lenders can sue over the rescissions for several years, so although the mis may rescind claims today and take the risk off their books, the lender can always come back and sure, and even if they don't win, it locks up resources for year, who wants that, another point is these guys can't even buy reinsurance on their supposedly profitable go-forward business, if you were an insurance company wouldn't that be the best way to jump in to the business, bottom line is no one wants to swallow one of these whole, they are going to have to live and die on their own, and your reading of the situation based on the ramr proxy was just plain wrong.