continued execution activity. everyone management reserve of and and growth for of for by risk Good thank from solid quarter our joining strategy Daniel. performance cure was Enact, This Thank another cycle-tested driven you you, and morning, us. release
year-over-year and return on million, Net $X.XX increased XX%. $XXX per XX% or income to equity approximately was diluted share
allowed Our delivering our And repurchase first which our cash to us second dividend year-to-date program strong on capital performance our and I special return announced we both in share has on expand yesterday, will few a of commitments. moments. continue
As their dedication hard work always, our successfully for we through I as continue like to would complex a team thank operate environment. to and
$XX persistency the insurance billion, reached for new Insurance quarter by increased quarter XX% and $XXX written driven billion. in-force of record was which the third a for
rates While persistency volumes, our a dampened the in insurance for been origination rise interest has mortgage it which increased in-force. tailwind has has
economically to spoken become hedge supports lower IIF natural growth, mortgages as interest about lower. even our when in rates past. consumers interest offered. the counterbalancing over those rise, business for increase environment We currently being origination is this volume Persistency with in in which have in older tends This rates favorable an dynamic
slight in forward. quarter benefit the increase As at of at expect end of rated third a market of basis continue this persistency our to and going least points mortgages portfolio current from quarter, of the the end XX% to XX we dynamic second rates, below have XX% the
commitment a risk-adjusted to key on is returns our to risk of strategy business A and aspect management priced our growth our high-quality maximize basis. pursue
selective to trended attributes pricing and of adjust pricing during upwards increases we our reflect quarter the increasing the With economic implemented certain geographies. our risk view of to the segments and uncertainty, industry
the continued actions have these into we In fourth fact, quarter.
shareholders. ability confident value remain in we Overall, creates write new returns our that business to delivers our and risk-adjusted attractive for
in-force. the business. there to market, continues our FICO was the in-force On signs the environment favorable score quality quarter our in at ratio broader be The of XX% during was our the policies, have solid, and having basis, was XXX. strong. some realized third of equity Employment our risk while sheets remains and portfolio XX% resulted portfolio loan-to-value average mark-to-market housing layered end in for X.X% our XX% The household in average And been least at remains of price of has healthy weighted an the credit balance of home insurance our quarter. risk slowing appreciation are of
against prices historically of accumulation home our high geographies, remains Even and the a as risk. certain will portfolio as equity have mitigant in weakened future embedded claims act in
in outpaced Our cures quarter levels again third continued as delinquency to approach delinquencies. the rate new pre-pandemic
resolution we a home favorable loss reserves Given our basis price an approach XX%. a of ratio quarter, plans, to on $XX risk loss and forbearance third to additional net negative of ever-to-date of in appreciation released mitigation, the leading long-term the and management million
We operate securing from of that additional to efficiency reinsurance is and our an a coverage and part continue to strength, important financial capital ability minimize credit enhances position risk. strategy our of distribute
loss our and of attractive transaction demonstrating year third reinsurance further During the at a in ratio with markets. our ended sufficiency the of excess or PMIERs of $X.X accessing billion success completed this terms, We we quarter quarter, XXX%, capital reinsurance third sufficiency.
restrictions discuss Genworth In an financial more in additional detail milestone flexibility, stress future believes GSE be it it satisfied has the the third this especially at lifted, to If quarter in will providing occurs, Dean that expects notable conditions this should announced, addition, year-end. will shortly. comply act emerge. GSE and as
like to allocation. take about approach I'd capital to talk now a minute to our
existing grow new capital before, are to discussed As opportunities support capital attractive in invest and business I've current shareholders. policyholders, our business, return to our our priorities
competitive and committed expanding remain as differentiation. in the We to prudently business investing an
enhancing We while balance are our evaluate well also and to we differentiated increase a are positioned and for success efficiency attractive ensure pursue shareholder to business on resilient continue creating to pricing new monitoring market building value, capabilities and learning, risk sheet. leader, machine portfolio and opportunities analytics, in a data focused
needs to and I sustainable We customers. with on to customer remain quarter, support the Kainth unique continue as providing appointment lending working affordable forward of partners, while ensure announced Experience Neenu serving homeownership. Chief our our look during focused we best-in-class a Customer we experience Additionally, the Neenu our of meeting the to first Officer.
aspects repurchase our share the One XXXX, per authorization to approval XXXX, The the quarter commitment we $X.XX our shareholders of the regular of of milestones. of we $X.XX our Board's or per or the to share share. quarterly our a $XX a quarter next of $XXX since and a paid special of just ago. In and delivered of of And of second initiation key of has we fourth been our over strategy cash announced share. announced $X.XX In our yesterday, dividend returning million IPO dividend program. $XXX a million have million capital consistently we the year special dividend per
shares buying and the Enact relative of repurchase share return our The is capital tailored program are attractive size float. to at a our believe shareholders our we valuations additional to to that long-term opportunistic potential, will by back manner in
As entered by program, we Enact shares part ownership. on of a Genworth basis the to its into repurchase agreed to with to proportional agreement an participate have which Genworth, selling has through
Our on press details release yesterday provides the program. additional repurchase
And reflect also allocation share and to of on shareholders excess dividends and actions returning to will business. of not repurchases have strength our this $XXX million this sheet, special in flows balance occur commitment of the XXXX target. cash in ordinary sustainability activity of but capital repurchase goals our These in our confidence commitment will year we the done $XXX much on this We only our deliver we while any million and our in will deliver year. to capital capital pay our based of to the expect the XXXX, we committed our return
as by a inflation few a interlinked and rates, macro have rapidly close and in the Enact's to volatility economic the market assess homebuyers the their forward. environment. changing position housing in increase including in rapid slowdown environment, complex uncertainty and are persistent moving market a housing the options contributed on making I'll in and the comments interest Several driving factors, near-term,
believe credit the act a for demand and term. counterbalance we as underlying that longer will However, over to healthy environment continue housing strong
in current there home equity a Currently, balance are in-force. homeowners' price mitigants is the and to our insurance ever-to-date are through appreciation, factors market household labor in healthy been meaningful strong which has buildup risk sheets all
Of all positioned our today continuously plans well we for future. resiliency and ensure course, we are to and steps important taken the scenarios enhance and have for the team
ahead look optimize we books ensure the we risk-adjusted to our now, pricing our we evolving are to As continually writing we economics. are
financial addition continue actions we credit taken performance have the flexibility risk our to These and enhancing mitigated reflected as profile dynamic balance of are The have will have In the significantly of evident portfolio, going benefits further through in our in program. and sufficiency. our the PMIERs through strength forward. enhanced sheet our CRT we actions our
trends, housing markets, in provide have as from first-time remain home buying. And such demand prices some levels, peak the providing home place. higher in housing shifted continue we while levels remain demand age strong of inventories drivers and will overall and core as reach demographic Long-term at in rates inventory offset remains a pressure. seen reduction for to an fundamentally affordability low the key homebuyers to demand the tailwind for Importantly, as have
We in more have delivered With are enter pleased well remain year. our both significant this the with the credit business. sheet protection, and performance for and the And we risk resilient quarter, are balance a a long-term. confident strong near positioned portfolio, we we fourth as we
over to it now turn I'll Dean.
