Fannie Mae and Freddie Mac securitized $43.28 billion of single-family loans covered by private mortgage insurance during the first quarter of 2015, according to a new Inside Mortgage Finance analysis and ranking. First-quarter PMI business was down 7.7 percent from the fourth quarter of 2014, although overall mortgage-backed securities issuance by the two government-sponsored enterprises was up 5.9 percent over the same period. All of the increase ... [Includes two data charts]
Certain factions of the industry want the CFPB to develop a plan to provide implementation support during a restrained enforcement period following the Aug. 1 effective date.
The general fear is that higher-than-needed capital standards will cause mortgage insurers to hold unnecessary amounts of assets that will force the industry to raise premiums.