Mortgage Loan Industry Experience Factor
TO: |
Interested Parties |
FROM: |
NAIC |
DATE: |
September 7, 2005 |
SUBJECT: |
Mortgage Loan Industry Experience Factor for the September 30, 2005 Quarterly Statement |
The Average Industry Experience Factor (AvIEF) to be used for the September 30, 2005 quarterly statement is 0.015 percent. The AvIEF is defined in the Asset Valuation Reserve section of the NAIC’s Quarterly and Annual Statement Instructions Life, Accident & Health for the year 2005. The IEF is an average of the mortgage data received at the NAIC for eight (8) previous quarters as follows:
3rd Quarter 2003 |
0.017% |
4th Quarter 2003 |
0.019% |
1st Quarter 2004 |
0.013% |
2nd Quarter 2004 |
0.017% |
3rd Quarter 2004 |
0.017% |
4th Quarter 2004 |
0.012% |
1st Quarter 2005 |
0.010% |
2nd Quarter 2005 |
0.011% |
Average IEF |
0.015% |
Individual companies should utilize information from the same quarters in calculating their average Company’s Experience Factor (AvCEF).
Contact Dan Swanson of the NAIC by phone at (816) 783 - 8412 or by e-mail at DSwanson@naic.org with any questions concerning this factor.
Individual companies should utilize information from the same quarters in calculating their average Company’s Experience Factor (AvCEF).
Contact Dan Swanson of the NAIC by phone at (816) 783 - 8412 or by e-mail at DSwanson@naic.org with any questions concerning this factor.