Purchase mortgages with primary mortgage insurance pooled into agency MBS increased by 9.7% from the second quarter, while refinance volume spiked by 40.2%. (Includes two data tables.)

Mesa’s funding round included investments from Vera Equity, Redwood Trust Horizons and Clocktower Ventures.

FHFA economists estimate that the average required monthly payment for a new mortgage rose 57% between 2022 and the end of 2023.

Primary MI lost market share in the agency market in the second quarter in both purchase mortgages and refis. Among loans in agency MBS with some form of MI, three states combined to account for slightly more than 30% of total volume in the second quarter. (Includes two data tables.)

The Federal Reserve, FHFA, large banks and the GSEs are all struggling to model the future impact of climate change, both on their specific businesses and on the broader economy.

While mortgages with primary insurance coverage included in agency mortgage-backed securities declined in the first quarter overall, VA refi volume jumped. (Includes two data tables.)

Increases in property taxes and home insurance that bump escrow amounts could put homeowners in financial hardship, according to a new survey by Lereta.

The volume of loans declined in all mortgage insurance categories on both the purchase-mortgage and refinance sides of the agency market in 2023. Meanwhile, FHA gained market share. (Includes two data tables.)

As severe weather events batter major housing markets, borrowers are finding it difficult and expensive to obtain homeowners insurance, according to panelists at a Mortgage Bankers Association conference.

Low-income borrowers could divert some of their downpayment funds to a reserve account that would pay loan costs during emergencies in a pilot program proposed by the Urban Institute.