The biggest chunk of the insured market was loans with private MI coverage: $78.32 billion in the second quarter, a 49.3% increase from the previous period. That broadened the private MI footprint to 42.0% of the insured agency market, up from its relatively low 41.7% share in the first quarter.
The results suggest that once combined, the resulting institution – dubbed Truist Bank – will be a formidable competitor, close to cracking the top ten.
Florida, Texas, Virginia and Georgia were all relatively MI-rich, with insured loans accounting for more than 60.0% of total agency business in those states.
An exclusive new analysis found that 14.8% of loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter were originated by mortgage brokers. That’s the highest broker share seen since all three agencies began reporting loan-level data that include, among other things, production channel.
Keep in mind: A handful of senior officials who worked in the bureau’s supervision and enforcement division quit this year, including Assistant Director Christopher D’Angelo and Enforcement Director Kristen Donoghue...
According to figures compiled by Inside Mortgage Finance, the Santa Ana, CA-based Stearns ranked 21st among all home originators in the first quarter, while Finance of America, Horsham, PA, ranked 30th. Combined, the two would’ve been 15th...
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