Company: Enact Mortgage Insurance, Raleigh, NC
Company Description: Enact (Nasdaq: ACT) is a leading U.S. private mortgage insurance provider committed to helping more people achieve the dream of homeownership. Building on a deep understanding of lenders' businesses and a legacy of financial strength, we partner with lenders to bring best-in class service and help put more people in homes and keep them there.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Insurance - Large
 Nomination Title: Enact
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2023, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 200 words used.
Founded in 1981, Enact has helped people achieve the dream of homeownership for 40+ years. Enact has been helping people buy homes decades earlier by enabling families to purchase a home without a 20% down payment. With mortgage insurance, homeownership is far more accessible, especially for first-time or low-income buyers. The company’s mission is simple: to help all kinds of people achieve the dream of homeownership – and, most importantly, to keep them in their homes for years to come.
Enact’s competitive pricing and guidelines, fast underwriting decisions, live customer service, regional sales and underwriting expertise, expansive value proposition, business-critical market insights and commitment to data security help their customers serve more homebuyers every day. Headquartered in the North Carolina Triangle area, Enact embraces its responsibility in supporting a thriving community and building a stronger future. Enact’s values-based culture is what makes it a premier place to work.
Enact’s core business is mortgage insurance, but in 2023, Enact launched a reinsurance arm, Enact Re. Through Enact Re, the company has expanded its franchise through access to new business opportunities consisting primarily of government-sponsored enterprise (GSE) credit risk transfer. [REDACTED FOR PUBLICATION]
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2023 that you wish to bring to the judges' attention (up to 250 words):
Total 249 words used.
Over the last two years, Enact has been recognized for its achievements across DEI, corporate philanthropy, data and analytics, and its standing as a great employer. 9 awards since 2023 alone are an incredible achievement and reinforce Enact’s reputation as a top-performing company.
Enact has integrated with four new technology vendors to make its mortgage insurance more widely available to different lenders and their borrowers.
Enact has also received multiple ratings upgrades over the past two years: one from Moody’s, two from S&P and two from Fitch. The company has also steadily increased its quarterly dividend. Enact Re, a reinsurance company and Enact’s first diversification effort, launched in 2023 and will soon be opening a Bermuda office to support that business.
In addition to its strategic achievements, Enact also has made significant achievements as an employer. The company recently opened a new in-house fitness center and has been recognized by Scotsman Guide’s 2024 Top Workplaces and Triangle Business Journal’s 2024 Best Places to Work.
From a customer perspective, Enact has also been successful. The company continues to grow integrations with loan origination systems used by Enact customers, and is modernizing its servicing platform. The company also has increased underwriting productivity [REDACTED FOR PUBLICATION] due to data digitalization, rules engines and task automatization. The changes significantly reduced costs, enabled faster turn times for submitted files, and helped customers meet their internal deadlines. Enact provides a better customer experience and attracts more business by making it easy to work with Enact.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 250 words used.
Enact is always working to learn, grow and become a better company – both for employees and customers. Enact’s goal is to perform well as a business and as an employer, and its achievements over the last two years demonstrate its commitment to being a well-rounded company. With awards recognizing Enact for its DEI work, philanthropy, data and analytics, and merits as an employer, Enact has a proven record of excelling in all areas as a company.
The company continues to grow its volunteer efforts and its foundation, helping give back to both the local community and the broader housing finance industry. Since its launch in 2022, the foundation has awarded $750,000 to 18 nonprofits. In response to Hurricane Helene in particular, our foundation donated $10,000, organized a supply drive, and employees volunteered for local nonprofits sorting donations.
Its recent partnership with SpringFour is one of the many ways Enact stands out from the crowd. Together, these two companies are directly helping borrowers by passing savings down and helping them achieve greater financial wellness. This is just one way Enact is providing services to borrowers (at no cost to them or their servicer) to help delinquent borrowers keep their homes.
Enact is not simply working to be better than its competition, but it strives to be better than it was the year before and the years prior. Each year, Enact finds new ways to grow its business, take care of its customers and consumers, and supporting its employees.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 96 words used.
Please review the followong supporting attachments:
- 2023 ESG report - supporting claims made throughout nomination
- 2024 Sustainability Report - supporting claims made throughout nomination
- A link to Enact’s homepage: https://enactmi.com/
- A link to Enact’s foundation page: https://enactmi.com/enact-foundation
- A link to Enact's Investor Relations site: https://ir.enactmi.com/
- A compilation of the press releases on Enact’s award wins since 2023
- A compilation of Enact’s ratings upgrades press releases
- A compilation of integrations press releases since 2023
- A compilation of credit risk transfer press releases since 2023
- A press release announcing SpringFour partnership
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