Introduction To The Canadian Mortgage Industry Fourth Edition

1 Introduction to the Canadian Mortgage Industry Module 4 Workbook Copyright 2 Reminder: Key Formulas Simple Interest The principal balance (the amount borrowed) (P) The interest rate ( ) The number of years, or simply time (n) Remember! It is more important to understand the CONCEPTS rather than the actual mathematical formulas.. This decrease was primarily due to a smaller high loan-to-value origination market following the introduction by the Canadian federal government of an insured mortgage rate stress test in the fourth quarter of 2016.. 45 earnings per fully diluted common share, and net operating income of $121 million or $1.. 1 billion, primarily as a result of typical seasonality • Premiums written from transactional insurance were $157 million. HERE

Compared to the prior quarter, transactional new insurance written decreased by $1.. 9 billion, a decrease of $4 0 billion compared to the same quarter in the prior year.. 79 per common share in 2017 The Company also delivered an operating return on equity of 13% during the quarter and 13% on a full year basis.. Genworth MI Canada Inc (the 'Company') (TSX: MIC) today reported fourth quarter 2017 net income of $132 million or $1.. Compared to the prior quarter, premiums written decreased by $38 million, or 19%, primarily due to seasonality. 2

 This represents an increase of $8 million, or 5%, from the fourth quarter of 2016, primarily due to a 19% higher average premium rate resulting from the March 17, 2017 premium rate increase, which was partially offset by a decline in new insurance written. HERE

The decrease was primarily due to lower demand for portfolio insurance as a result of a substantial increase in portfolio insurance premium rates on mortgage applications received after December 31, 2016 in response to higher regulatory capital requirements, as well as the prohibition of portfolio insurance on refinance transactions originated by lenders after November 30, 2016.. '2017 was another strong year for our business, with outstanding underwriting results and portfolio quality,' said Stuart Levings, President and CEO. ae05505a44 4

5 billion, a decrease of $0 6 billion, or 12%, compared to the same quarter in the prior year.. New insurance written from portfolio insurance on low loan-to-value mortgages was $0.. 09 operating earnings per fully diluted common share The Company paid ordinary dividends of $1.. 76 earnings per fully diluted common share, and net operating income of $467 million or $5. 5