The VA home loan program surged past the FHA in new business in 2020. Thanks to its rapid-refi option, the VA also took market share away from private MIs. (Includes three data charts.)
Private mortgage insurance accounted for over half of insured loans sold the agencies last year, while the VA overtook the FHA as the top government-insurance program. (Includes three data charts.)
The industry was not expecting the FHFA to give ground on 4% Tier I capital for Fannie and Freddie. Now for the big question: What does it mean for lenders?
All sectors of the MI market saw healthy increases in volume during the third quarter, with private MIs expanding their share and VA falling back slightly. (Includes three data charts.)
Private MI accounted for over half of the insured purchase loans sold into agency MBS during the third quarter, and the industry's share of insured refi business is up from 2019. (Includes three data charts.)
Private MIs posted bigger gains in new insurance written than FHA and VA during the second quarter. But soaring delinquencies and related expenses nearly wiped out industry earnings. (Includes three data charts.)
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