Note 9 - Losses and LAE Level 3 (Tables)

12 Months Ended

Dec. 31, 2013

Losses and LAE Mortgage Insurance [Abstract]

Loss Reserves By Segment [Table Text Block]

Our reserve for losses and LAE, as of the dates indicated, consisted of:

	December 31,
(In thousands)	2013		2012
Mortgage insurance reserves	$	2,164,353	$	3,083,608
Financial guaranty reserves	21,068		66,328
Total reserve for losses and LAE	$	2,185,421	$	3,149,936

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]

The following table presents information relating to our mortgage insurance reserves for losses, including IBNR, and LAE for the periods indicated:

	Year Ended December 31,
(In thousands)	2013			2012		2011
Mortgage Insurance
Balance at January 1	$	3,083,608		$	3,247,900	$	3,524,971
Less reinsurance recoverables (1)	83,238			151,569		223,254
Balance at January 1, net of reinsurance recoverables	3,000,370			3,096,331		3,301,717
Add losses and LAE incurred in respect of default notices reported and unreported in:
Current year (2)	584,174			899,511		1,127,079
Prior years	(19,526		)	21,996		166,778
Total incurred	564,648			921,507		1,293,857
Deduct paid claims and LAE related to:
Current year (2)	31,399			12,503		39,642
Prior years	1,407,629			1,004,965		1,459,601
Total paid	1,439,028			1,017,468		1,499,243
Balance at end of period, net of reinsurance recoverables	2,125,990			3,000,370		3,096,331
Add reinsurance recoverables (1)	38,363			83,238		151,569
Balance at December 31	$	2,164,353		$	3,083,608	$	3,247,900

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(1) Related to ceded losses on captive reinsurance transactions, Smart Home and Reinsurance Transactions. See Note 8 for additional information.

(2) Related to underlying defaulted loans with a most recent default notice dated in the year indicated. For example, if a loan had defaulted in a prior year, but then subsequently cured and later re-defaulted in the current year, that default would be considered a current year default.

Rescissions And Denials [Table Text Block]

The following table illustrates the amount of first-lien claims submitted to us for payment that were rescinded or denied, for the periods indicated, net of any reinstatements of previously rescinded policies or denied claims within each period:

	Year Ended December 31,
(In millions)	2013		2012		2011
Rescissions	$	81.2	$	279.3	$	474.2
Denials	171.7		539.4		170.9
Total first-lien claims submitted for payment that were rescinded or denied (1)	$	252.9	$	818.7	$	645.1

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(1) Includes an amount related to a small number of submitted claims that were subsequently withdrawn by the insured.

Schedule of Liability for Future Policy Benefits, by Product Segment [Table Text Block]

The following table shows our mortgage insurance reserve for losses and LAE by category at the end of each period indicated:

	Year Ended December 31,
(In thousands)	2013		2012
Reserves for losses by category:
Prime	$	937,307	$	1,508,140
Alt-A	384,841		490,728
A minus and below	215,545		314,068
IBNR and other	347,698		289,032
LAE	51,245		64,252
Reinsurance recoverable (1)	38,363		83,238
Total primary reserves	1,974,999		2,749,458
Pool	169,682		281,937
IBNR and other	8,938		34,000
LAE	5,439		7,466
Total pool reserves	184,059		323,403
Total first-lien reserves	2,159,058		3,072,861
Second-lien and other (2)	5,295		10,747
Total reserve for losses	$	2,164,353	$	3,083,608

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(1) Primarily represents ceded losses on captive transactions and Smart Home (for 2012).

(2) Does not include second-lien premium deficiency reserve.