Executive Officer Stock Ownership Guidelines

Consistent with our compensation philosophy, we believe that senior management should have a significant equity investment in the Company to further align their interests and actions with the interests of the Company’s stockholders.

Under our Stock Ownership Guidelines, our CEO, Chief Financial Officer, President of our Mortgage Insurance (MI) business and other officers who are members of the management group designated by the CEO from time to time are expected to hold shares with a market value equal to at least the values set forth below.

Unless the officer holds more than this threshold market value of shares, the officer is not permitted to sell shares, options or other holdings of our stock that he or she owns, subject to certain exceptions. The levels of stock ownership are outlined below: