Trends split during the third quarter in terms of GSE business involving private mortgage insurance. Purchase-mortgage volume increased and refis declined. (Includes three data tables.)

A pause in the National Flood Insurance Program due to the government shutdown has created opportunities for private flood insurance companies to increase their business.

Cross-industry coordination will be key to increasing housing affordability, according to industry participants.

The volume of new mortgage originations with some form of primary MI coverage rose 25.5% from the first to the second quarter, with private MIs posting bigger gains than FHA and VA. (Includes four data tables.)

Securitization of FHA purchase mortgages increased by nearly 30% on a sequential basis in the second quarter. That’s double the rate of GSE activity involving private MI as homebuyers look for loans that can help with affordability. (Includes three data tables.)

Increasing home insurance premiums have caused delays in mortgage closings, according to Matic, an insurance carrier.

Originations of home loans with some form of primary mortgage insurance fell across the board in the first quarter, but the FHA and VA gained share as the private MIs saw the biggest declines. (Includes four data tables.)

Fannie and Freddie MBS issuance with private MI declined 20.4% on a sequential basis during the first quarter of 2025. Leaders of private MIs attributed the first-quarter slowdown to affordability issues. (Includes three data tables.)

Several factors are affecting whether homeowner’s insurance may become more affordable in the future.

New bills in Congress aimed at the housing market have some bipartisan support; Trump fires Democrats on NCUA board; Trump administration looks to boost mortgage activity at smaller banks.