Fannie Mae, Freddie Mac and Ginnie Mae securitized $819 billion of insured loans in 2019, up 20% from the previous year. Insured agency refi business soared by 120% from 2018.

The stock market boomed in 2019 and mortgage stocks followed right along. Mortgage insurance equities had nice gains but the top performers were Fannie Mae and Freddie Mac. (Includes data chart.)

The private MI industry wrote $118.2 billion of new insurance during the third quarter, coming within a whisker of matching the all-time high set 16 years ago. (Includes two data charts.)

It was a bravura performance for the FHA’s Mutual Mortgage Insurance Fund in fiscal 2019. The MMIF ended the year with a capital ratio of 4.8%, more than double the statutory minimum.

The industry’s mood at the Mortgage Bankers Association’s annual conference last week seemed optimistic. But global uncertainty with China and trade, and Brexit could cut the good times short.

Stress testing issuers isn’t confined to just the largest players in the Ginnie market. The agency plans to look at lower-ranked firms as well.

Legislation was passed earlier this year to curb abuses tied to VA rapid refis but lender violations remain an issue. At least, that’s how the VA sees it. Big audits may be in the works.

Repeat homebuyers accounted for over half of the agency purchase-mortgage market in the third quarter, the first time that’s happened in a while. (Includes four data charts.)

After a court case didn’t go the agency’s way, HUD has promised to follow proper procedures on downpayment assistance rulemaking.