Enact Holdings, Inc. (ACT) SEC Filings & Earnings Calls

Elevated Loss Ratio from Lower Reserve Releases

“Our loss ratio for the three months ended June 30, 2026, was 14% as compared to 10% for the three months ended June 30, 2025.” · word for word

Housing Affordability Pressure on Purchase Volume

“Over the past few years, housing affordability has deteriorated as elevated mortgage rates and home price appreciation outpaced median family income according to the National Association of Realtors Housing Affordability Index.” · word for word

Macroeconomic Volatility and Inflation Uncertainty

“Through the second quarter of 2026, the United States economy continued to be subject to significant volatility and uncertainty, largely related to geopolitical tensions including the Iran conflict, changing economic policies, and continued inflationary pressure.” · word for word

Elevated persistency (80%) may indicate rate lock-in effect; potential for higher claims if rates decline

“Persistency remained elevated at 80%, flat compared to Q1 2026 and down from 82% in Q2 2025. Approximately 12% of mortgages in portfolio had rates at least 50 bps above June 2026's average mortgage rate of 6.5%.”

Loss ratio increased to 14% from 10% YoY due to lower reserve releases

“Loss ratio was 14% ... compared to ... 10% in Q2 2025. The current quarter's $37 million reserve release compares to a reserve release of $48 million in Q2 2025.”

Elevated Loss Ratio from Lower Reserve Releases

“Our loss ratio for the three months ended March 31, 2026, was 15% as compared to 12% for the three months ended March 31, 2025.” · word for word

Housing Affordability Pressure on Purchase Volume

“Over the past few years, housing affordability has deteriorated as elevated mortgage rates and home price appreciation outpaced median family income according to the National Association of Realtors Housing Affordability Index.” · word for word

Macroeconomic Volatility and Inflation Uncertainty

“During the first quarter of 2026, the United States economy continued to be subject to significant volatility and uncertainty, largely related to geopolitical tensions including the Iran conflict, changing economic policies, and continued inflationary pressure.” · word for word

Mortgage rate volatility and affordability constraints may impact housing activity and persistency.

“Affordability and mortgage rate volatility continued to shape housing activity.” · word for word

Housing Affordability Pressure

“While affordability remained an issue for many” · word for word

Macroeconomic Uncertainty

“The macroeconomic environment in 2025 remained dynamic” · word for word

Persistency remains elevated at 80%, indicating low refinancing activity which could reduce future NIW if rates remain high

“Persistency remained elevated at 80%, down from 83% in the third quarter of 2025 and down from 82% in the fourth quarter of 2024. Approximately 22% of the mortgages in our portfolio had rates at least 50 basis points above December 2025's average mortgage rate of 6.2%.” · word for word

Affordability pressures and interest rate volatility continue to shape housing activity, potentially impacting future demand

“CEO: 'Affordability pressures and interest rate volatility continue to shape housing activity.'”

Macroeconomic uncertainty and housing affordability

“Throughout 2025, the United States economy was subject to significant volatility and uncertainty, largely related to changing economic policies, including new and increasing tariffs, continued inflationary pressure, the then impending government shutdown as well as certain domestic and geopolitical tensions.” · word for word

Loss ratio normalization

“Loss ratio (2) 15 % 5 %” · word for word

Regulatory changes (VantageScore 4.0)

“In July 2025, the FHFA announced that it will implement the acceptance of VantageScore 4.0 for mortgages delivered to Fannie Mae and Freddie Mac. The GSEs have not yet released implementation details and timelines, and the full impact of this initiative on our business, processes and financial results remains uncertain.” · word for word

Loss ratio increased to 15% from 5% YoY due to lower reserve releases.

“Losses incurred $36M, loss ratio 15% vs 5% in Q3 2024.”