Despite a tough economic environment, FHA Commissioner Julia Gordon believes the administration is “making progress” to expand access to credit.

CoreLogic estimates the uninsured flood loss from the storm is between $10 billion and $17 billion.

For the first time since 2007, private MIs accounted for over half of new insured mortgage originations thanks to surging purchase-mortgage business in the second quarter. FHA and VA were hit much harder by the nosedive in refinance activity. (Includes three data charts.)

Fannie Mae will allow downpayment assistance supported by lender-funded grants.

The FHA program and private MIs accounted for slightly larger shares of insured loans securitized in the second quarter. The volume of insured loans delivered to Fannie, Freddie and Ginnie was down 8%, compared to a 39% nosedive in uninsured loans. (Includes three data charts.)

New primary MI coverage on refinance loans fell sharply in the first quarter. Purchase MI business saw a somewhat softer landing as the mortgage market nosedived. (Includes three data charts.)

The sharp drop in agency refinance business in the first quarter hit FHA and VA hard but had less of an impact on the private MI market. UWM was the top private MI customer. (Includes three data charts.)

Experts continue to debate how and when FHA should implement insurance premium reductions. Also, last week, Julia Gordon’s nomination to head FHA advanced in the Senate.

Mortgage originations with primary MI coverage declined 11.6% from the third to the fourth quarter of 2021. On a year-to-date basis, FHA did better than VA and the private MIs. (Includes three data charts.)

An analyst with Keefe, Bruyette & Woods says a buyer might find the company’s mortgage servicing and technology segments of value.