Private MIs made some gains in the insured purchase-mortgage market in 2021, while the FHA grew its share of insured refinance business. (Includes three data charts.)
The FHA Mutual Mortgage Insurance Fund ended fiscal 2021 with a capital ratio of 8.03%, more than four times its statutory minimum. As anticipated, the industry wants FHA to follow up with premium cuts.
Private mortgage insurers, the VA and the FHA all saw declining refinance business in the third quarter, while purchase-mortgage business was up overall. (Includes three data charts.)
The shift from refinance to purchase-mortgage lending helped boost the share of new agency business with primary mortgage insurance during the third quarter.
Surging purchase-mortgage business helped boost market shares for the FHA and private mortgage insurers, but the biggest factor was a sharp decline in VA business. (Includes three data charts.)
The shift in focus from refinance to purchase mortgages helped boost the secondary market in FHA and private MI loans, while the VA and uninsured conventional markets saw declines. (Includes three data charts.)
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