Contact: MICA (202) 682–2683
Email: pat@micadc.org
Genworth’s Kevin Schneider Elected MICA President
Washington, D.C. July 23, 2007 – Kevin D. Schneider, president of U.S. mortgage insurance for Genworth Financial, has been elected president of the Mortgage Insurance Companies of America (MICA).
Schneider succeeds L. Stephen Smith, chairman and chief executive officer of PMI Mortgage Insurance Co., who continues to serve as a member of the association’s executive committee.
"This is a dynamic time for our nation’s housing market," said Schneider. "We’re seeing a clear market shift driving the increasing number of low down payment privately insured mortgages. The high cost of housing in many areas continues to put home purchases out of reach for many families. The mortgage insurance industry will keep working to help low and moderate income borrowers realize their dream of homeownership."
Schneider has a bachelor’s degree in industrial and labor relations from Cornell University, as well as a master’s degree from Northwestern University’s J.L. Kellogg Graduate School of Management. Genworth Mortgage Insurance Corporation is located in Raleigh, NC and online at www.smartermi.genworth.com.
Serving alongside Schneider as MICA Vice President and Secretary/Treasurer will be Christopher S. Nard, President and Chief Executive Officer of Republic Mortgage Insurance Company in Winston-Salem, NC.
MICA is the trade association representing the private mortgage insurance industry. Its members help loan originators and investors make funds available to home buyers for low down payment mortgages by protecting these institutions from a major portion of the financial risk of default.