Primary MI lost market share in the agency market in the second quarter in both purchase mortgages and refis. Among loans in agency MBS with some form of MI, three states combined to account for slightly more than 30% of total volume in the second quarter. (Includes two data tables.)

Borrowers who obtained mortgages in recent years are prime targets for refis as interest rates decline.

Researchers find that the climate-related increase in flood damage will boost the cost of subsidizing federal mortgage programs by 44% over the next 30 years. That doesn’t include the costs to homeowners, lenders, insurers or MBS investors.

While forbearance options helped many homeowners avoid foreclosure during the pandemic, alignment between programs could help.

The MBA wants significant changes to the Federal Financing Bank risk-sharing program. Reforms are also needed in the multifamily accelerated processing program, according to the trade group.

Second-quarter Ginnie Mae securitization growth was strongest among purchase-loan originations. But refis picked up steam over 2023. (Includes four data tables.)

FHA said it would consider stakeholder feedback in future policy updates. But industry trade groups are already calling for changes to the cyber incident reporting requirements announced and launched in May.

Ginnie Mae last week proposed a new pool type to allow repooling of home equity conversion mortgages that have reached their buyout limit. Comments on the HMBS 2.0 term sheet are due July 31.

The allotment for Ginnie Mae falls short of both the Biden administration’s requests and input from the mortgage industry.

Borrowers’ perceptions of their home valuations are influenced by localized stressors, according to economists in HUD’s Office of Policy Development and Research.