As of December 31, 2020, we had 262 full- and part-time employees. We introduced Rate GPS in June 2018 to replace our previous rate card pricing system. Ohio has repealed this requirement for future periods beginning January 10, 2019. NMIC then retains losses in excess of the respective reinsurance coverage amounts. The termination had no effect on the cession of pool risk under the 2016 QSR Transaction. Italicized terms have the same meaning that such terms have in the PMIERs.) These are typically referred to as "risk-to-capital (RTC) requirements." Congress, however, has not enacted any legislation to date. Any such changes that come to pass could have a significant impact on our business. Loans insured by government MIs are not covered by HOPA. Section 8 of RESPASection 8 of RESPA applies to most residential mortgages insured by us. We are currently doing business with a majority of these lenders. Declines in home values typically increase the severity of any claims we may pay. We depend on reliable, consistent third-party servicing of the loans that we insure. See "Item 1 - Business - U.S. Mortgage Insurance Regulation. A subset of mortgages within the ATR rule are known as QMs. In addition, we believe most ARMs in our IIF are indexed to LIBOR. We currently intend to retain all of our earnings, if any, to fund our growth.
