Due partly to the pandemic, which had an outsized negative impact on non-agency lending, the jumbo sector saw its share of overall originations drop to just 9.7% in 2020 from 16.7% in 2019.
At year-end, REIT MBS holdings were down 25.2% from the comparable period in 2019. While industry-wide growth was tepid in the fourth quarter, several institutions upped their investments significantly.
Claudia Merkle, CEO of National MI, said FHA and MI businesses operate on different points of the risk spectrum and, therefore, a cut in MIP will not result in massive ramifications for the MI industry.
The general consensus among private mortgage insurers is that a potential cut to FHA mortgage insurance premiums will have little impact on their business.
If HUD moves to preserve the 2013 disparate-impact rule, the National Association of Mutual Insurance Companies said it will likely continue its legal challenge.
The new timeline moves the moratorium’s expiration deadline, as well as the timeframe for a borrower to request an initial COVID-19 forbearance by three months to June 30.
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