Saturday May 19, 2012
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AIG Unity Obtains Approval as Private Mortgage Insurer
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AIG Unity Guaranty Obtains Approval as Private Mortgage Insurer


American International Group Inc.(NYSE:AIG), through its subsidiaries, provides insurance and financial services in the United States and internationally. It has four segments: General Insurance, Life Insurance and Retirement Services, Financial Services, and Asset Management.

Shares are up .6% with over 1.9 million in volume. This momentum comes as AIG United Guaranty Mortgage Insurance Company Canada, which provides mortgage default insurance designed to increase home ownership, has obtained approval as a private mortgage insurer under the National Housing Act Mortgage-Backed Securities program (NHA MBS).

AIG United Guaranty's(1) approval allows for single-family residential mortgages insured by AIG United Guaranty to be eligible under the NHA MBS program. "We are pleased to announce our approval into the NHA MBS program, which allows our lending partners to securitize AIG United Guaranty-insured mortgages and support effective capital and liquidity management practices," said Andy Charles, president and CEO. "This demonstrates to the investment community the strength and strong partnership that AIG United Guaranty offers the Canadian asset-backed securities market."




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