Private mortgage insurers expanded their combined footprint in the primary MI market during the third quarter mostly because of a sharp downturn in VA home loan guaranty activity. [Includes two data charts.]
Although Impac Mortgage Holdings lost $142.8 million over the past two quarters, company management continues to be bullish on its future, laying the groundwork for a further expansion into the non-qualified loan market.
Midterm election results will likely push any housing-finance reform legislation further away, slow deregulatory efforts by Trump appointees, and dash any chances of another regulatory relief bill, according to analyses of the results.
With originations slowing and scores of lenders pondering exit strategies, Panorama Partners is poised to make a big splash as a buyer of companies in the quarters ahead, according to Eric Egenhoefer, who’s teaming up with the private equity firm.
Waterstone Mortgage has won temporary relief on the $10.6 million in damages it had been directed to pay to 175 loan originators as part of a class-action lawsuit involving employee compensation.
The delinquency rate on mortgages increased significantly in the third quarter of 2018 compared with the previous period, according to Inside Mortgage Finance’s Large Servicer Delinquency Index. Industry analysts suggest that the rise was largely related to seasonal factors. [Includes one data chart.]
Results of an annual audit of the FHA’s Mutual Mortgage Insurance Fund turned out better than expected, showing improvements in the fund’s economic net worth and its closely watched capital reserve ratio. [Includes one data chart.]
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