The New England Insurance Trust (NEIT) and New England Mortgage Insurance Exchange (NEMIE) are organizations which, in partnership with the Maine, Massachusetts, New Hampshire and Vermont Bankers Associations, provide member institutions with a stable source of Mortgage Life and Private Mortgage Insurance (PMI) products.

The New England Insurance Trust (NEIT) was formed in 1963 by a small group of New Hampshire banks to obtain an attractive, low cost, and more stable mortgage insurance program for their borrowers. The NEIT's pooling concept has been instrumental to its growth and success over the years and now includes over 125 financial institutions located throughout New England. The NEIT’s guiding philosophy has been , “…to provide eligible borrowers of participating institutions with the lowest cost group mortgage life insurance program available in the market place, consistent with sound economic, and actuarial practice.” During the policy year ending February 2006, the NEIT made $2.13 million in claim payments (representing 60% of premiums) to participating institutions to pay off or reduce their insured customers’ mortgage balances.  Since its inception more than 40 years ago, the NEIT has offered Group Mortgage Life and Group Mortgage Accidental Death Insurance products which are currently underwritten by Minnesota Life Insurance Company.

The New England Mortgage Insurance Exchange (NEMIE) is a captive, reciprocal, reinsurance facility funded and founded by the NEIT in 1997. This pooling concept has allowed subscribing financial institutions of all sizes to take advantage of economies of scale in offering private mortgage insurance underwritten by MGIC.

For further information about the programs:

Broker/Administrator of NEIT/NEMIE:

Daniel R. Dubreuil, CLU, ChFC

Executive Vice President, Mathes Associates, Inc.

1-800-234-3621 Ext. 102 or ddubreuil@mathesassociates.com

Secretary of NEIT:

Jerry Little

President, New Hampshire Bankers Association

1-603-224-5373 or jlittle@nhbankers.com