Essent Group Ltd. operates three interconnected businesses serving the U.S. housing finance and real estate sectors: private mortgage insurance through Essent Guaranty, which protects lenders and investors against borrower default on residential mortgages with low down payments; reinsurance of mortgage credit risk through Essent Reinsurance Ltd., which participates in government-sponsored enterprise credit risk transfer transactions; and title insurance and settlement services through operations in multiple states that protect property owners and lenders against defects in real estate titles. The company's primary revenue comes from mortgage insurance premiums—charged as a percentage of loan balance and collected monthly or upfront—and title insurance premiums earned at closing, with earnings also generated through reinsurance placements. Customers range from mortgage originators and banks to real estate agents and brokers, with the business fundamentally dependent on residential lending volumes, real estate transaction activity, and the regulatory requirement that low down payment mortgages carry credit protection before sale into secondary markets.