Description

Enact Holdings, Inc. Built Rate360 Over Years—Is Granular Risk-Based Pricing the Hidden Weapon for the Next Mortgage Cycle?

Enact’s third-quarter performance for 2025 exhibits continued execution of its strategy and a robust operational model. The company recorded an adjusted operating income of $166 million, equating to $1.12 per diluted share, with an adjusted return on equity of 13%. Further, insurance in-force increased by 2% year-over-year to $272 billion, supported by $14 billion in new insurance written. Despite a complex macroeconomic environment, Enact attributes its strong performance to disciplined business operations and long-term strategic planning. Positive macroeconomic factors such as steady consumer spending, moderated inflation, and a resilient labor market have contributed to a modest improvement in home affordability, despite broader market uncertainties. These dynamics have resulted in increased housing supply in certain regions as many potential buyers adopt a cautious stance. However, Enact benefits from strong demographic trends, especially among first-time homebuyers, which continues to underpin its business model.