Oaktown Re Ltd

NMI Holdings has successfully completed its first securitization of mortgage insurance risks, with the issuance of the $211.32 million of Oaktown Re Ltd. (Series 2017-1) insurance-linked notes that have secured it a source of reinsurance from the capital markets that also helped free up underwriting capital, according to the CEO.

The NMI Holdings sponsored new mortgage insurance-linked securities (ILS) transaction we wrote about this week has now been named as Oaktown Re Ltd. and the three tranches of mortgage insurance linked notes issued have all been priced.