Mauritius Union Assurance Co. Limited (MUA.mu) listed on the Stock Exchange of Mauritius under the Insurance sector has released it’s 2015 abridged results.For more information about Mauritius Union Assurance Co. Limited (MUA.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Mauritius Union Assurance Co. Limited (MUA.mu) company page on AfricanFinancials.Document: Mauritius Union Assurance Co. Limited (MUA.mu) 2015 abridged results.Company ProfileMauritius Union Assurance Co. Limited offers general insurance for individuals and corporates. The company operates through Casualty, Property, Life, and Other segments, where the Casualty segment offers motor, liability and cash in transit, personal accident and health insurance products. The Property segment provides fire and allied perils, engineering, marine, and all risks insurance products. The Life segment offers life and pension insurance products. The Other segment provides stock-broking services. The company provides additional financial services as well, where housing, educational and vehicle loans are offered. Mauritius Union Assurance Co. Limited has four subsidiaries that work under it, Feber Associates Ltd, National Mutual Fund Ltd and Phoenix TransAfrica Holdings Ltd are fully owned subsidiaries. The Group also owns an 80% stake in Associated Brokers Ltd. Mauritius Union Assurance Co. Limited is listed on the Stock Exchange of Mauritius.
Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago A Comeback With A Twist HOUSING Investors Kroll Bond mortgage RMBS Servicing 2018-10-30 Krista Franks Brock Share 1Save A newly revived residential mortgage-backed securities (RMBS) market has not only begun to flourish over the past couple of years but also to evolve with new features that according to Kroll Bond Rating Agency (KBRA) “merit additional consideration from a credit standpoint.” Both the prime and non-prime RMBS markets have experienced a reinvigoration over the past two years with private label securities issuances scaling to $50 billion in 2017. That’s up from just $18.8 billion in 2016 and $29.3 billion in 2017, according to KBRA in a report released recently. This is a significant change from just three years ago in 2015 when, KBRA says, “prime issuance was nearly non-existent, and in 2016, prime sponsors were exiting the market, not accessing it.” The most active newcomers to the RMBS market are Flagstar Bank, which issued eight RMBS transactions in 2017; Invictus Capital Partners, which issued six; and American International Group, Inc. (AIG), which issued four. KBRA expects these institutions to continue their role in the RMBS market. The non-QM market experienced increased activity with risk retention from Redwood Trust, Galton Funding, Neuberger Berman, Starwood Property Trust, and Annaly Capital Management, Inc. KBRA attributes some of the growth in RMBS issuances to tightening spreads, investor acceptance of alternative loan products, and “to the surprise of many participants,” growth in agency-eligible collateral. The reinvigorated RMBS market has changed from pre-crisis days though. Three key differences in today’s transactions are the inclusion of stop advance provisions, variable servicing fees, and alternative documentation. Stop advance provisions prevent servicers from advancing interest on delinquent loans after a set time, often 120 days. This feature generally leads to a “significant increase in ultimate principal recovery as well as a commensurate decrease in current interest paid to certificate holders,” according to KBRA. Pre-crisis RMBS transactions typically featured set servicing fees, and often the fees were in excess of the servicing costs. “The desire for more efficiency and the potential for higher investor yield led to the development of variable servicing fee structures,” according to KBRA, which noted both “advantages and drawbacks to this fee structure.” Alternative documentation also has its pros and cons. They allow for self-employed and non-traditional wage earners to enter the market, but KBRA offers a note of caution. Not all alternative documentation programs are alike, and each should be examined and considered thoughtfully. When it comes to income duration or asset qualification, “less robust methods likely involve higher ATR claim risk,” KBRA stated. The Week Ahead: Nearing the Forbearance Exit 2 days ago October 30, 2018 1,769 Views in Daily Dose, Featured, News, Secondary Market Previous: Triggering Homeownership Next: Don’t Worry About Cash-out Refis Just Yet The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Krista Franks Brock Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Home / Daily Dose / A Comeback With A Twist Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Print This Post Tagged with: HOUSING Investors Kroll Bond mortgage RMBS Servicing