Contact: MICA (202) 682 2683
Email: pat@micadc.org
Frank FilippsTapped To Lead MICA
Washington, D.C. (June 28, 2000) - Frank P. Filipps, chairman and chief executive officer of Radian Guaranty Inc., has been elected President of the Mortgage Insurance Companies of America (MICA).
Filipps, who begins his term as president of MICA on July first, succeeds Charles M. Reid, president and chief executive officer of United Guaranty Corp.
"I am looking forward to my tenure as MICA's president," said Filipps. "One of my priorities is to continue our industry's efforts to educate the public about the advantages of private mortgage insurance and how PrivateMI helps consumers afford a house sooner."
Filipps was instrumental in developing MICA's national public relations and advertising campaign, which uses the slogan "PrivateMI. Today. Not Someday." to drive home the message in a series of print and radio ads.
Filipps began his career at Chase Manhattan Bank in New York as a corporate credit and marketing officer.
He then joined American International Group, Inc. where he served in a number of financial and investment management positions.
Filipps joined CMAC Investment Corp. in 1992 as senior vice president and chief financial officer. In 1994 he was promoted to executive vice president and chief operating officer. Radian Group Inc. and its principal subsidiary, Radian Guaranty Inc., was formed in 1999 through the merger of Amerin Guaranty Corp. and CMAC Investment Corp. Radian is headquartered in Philadelphia, Pennsylvania.
Filipps is a director of Impac Mortgage Holdings Inc., Impac Commercial Holdings Inc., and the World Affairs Council of Philadelphia. He earned a bachelor's degree in economics from Rutgers University and a master's in business administration from New York University.
MICA is the trade association representing the private mortgage insurance industry. Its members expand homeownership opportunities by enabling homebuyers to purchase homes with as little as a 3-to-5 percent down payment.