Exactly kas. And... PPMIQ is in a sector that provides PMI on mortage loans and after the housing crisis as we all know more people than ever in todays world are required to carry PMI on their home loan unless they have a substantial down payment. With that said, more PMI is being sold and required in todays world than we have seen in many many years thus creating for a very favorable revenue stream for these companies.
What put PPMIQ in hard times is so many defaults on home loans that they had insured.
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