Note 10 - Losses and Loss Adjustment Expenses Level 3 (Tables)

12 Months Ended

Dec. 31, 2014

Insurance Loss Reserves [Abstract]

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)	2014		2013
Reserves for losses by category:
Prime	$	700,174	$	937,307
Alt-A	292,293		384,841
A minus and below	179,103		215,545
IBNR and other	223,114		347,698
LAE	56,164		51,245
Reinsurance recoverable (1)	26,665		38,363
Total primary reserves	1,477,513		1,974,999
Pool	75,785		169,682
IBNR and other	1,775		8,938
LAE	3,542		5,439
Total pool reserves	81,102		184,059
Total First-lien reserves	1,558,615		2,159,058
Second-lien and other (2)	1,417		5,295
Total reserve for losses	$	1,560,032	$	2,164,353

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(1) Represents ceded losses on captive transactions and the QSR Reinsurance Transactions.

(2) Does not include our Second-lien PDR that is included in other liabilities.

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 but excluding Second-lien PDR, for the periods indicated:

	Year Ended December 31,
(In thousands)	2014			2013			2012
Mortgage Insurance
Balance at January 1	$	2,164,353		$	3,083,608		$	3,247,900
Less reinsurance recoverables (1)	38,363			83,238			151,569
Balance at January 1, net of reinsurance recoverables	2,125,990			3,000,370			3,096,331
Add losses and LAE incurred in respect of default notices reported and unreported in:
Current year (2)	422,999			584,174			899,511
Prior years	(177,360		)	(19,526		)	21,996
Total incurred	245,639			564,648			921,507
Deduct paid claims and LAE related to:
Current year (2)	9,006			31,399			12,503
Prior years	829,256			1,407,629			1,004,965
Total paid	838,262			1,439,028			1,017,468
Balance at end of period, net of reinsurance recoverables	1,533,367			2,125,990			3,000,370
Add reinsurance recoverables (1)	26,665			38,363			83,238
Balance at December 31	$	1,560,032		$	2,164,353		$	3,083,608

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(1) Related to ceded losses on captive transactions, Smart Home (for 2012) and QSR 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)	2014		2013		2012
Rescissions	$	56.8	$	81.2	$	279.3
Denials	87.9		171.7		539.4
Total First-lien claims submitted for payment that were rescinded or denied (1)	$	144.7	$	252.9	$	818.7

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(1) Includes an amount related to a small number of submitted claims that were subsequently withdrawn by the insured.