Between 2015 and 2022, the private mortgage industry transferred more than $20.8 billion of risk exposure via the issuance of 51 insurance-linked notes through the capital markets.
FHA lending is concentrated on borrowers with loan-to-value ratios greater than 95%, while private MI activity is focused on borrowers with LTV ratios between 85% and 95%, according to an analysis by Inside FHA/VA Lending of agency mortgage-backed securities disclosures.