Private mortgage insurers gained share in the primary MI market in the first quarter of 2022, helped by purchase-mortgage activity. VA loans accounted for the majority of refis with primary MI during the period. (Includes two data charts.)
Private mortgage insurers lost market share in the agency purchase market during the last quarter of 2021, while FHA production shifted toward riskier business.
Mortgage originators in disaster-prone areas should monitor the trends that could lead to a sustained rise in property insurance premiums, according to advisory firm SitusAMC.
The 3Q21 shift from refinance to purchase-mortgage lending generally benefited FHA and private MI activity more than the VA market. (Includes two data charts.)
It was thought that higher capital requirements proposed on Ginnie Mae issuers would ding valuations of the MSR asset. But so far, that hasn’t happened. Credit: strong demand and declining forbearance ratios.
California accounted for most of the overall market decline in agency business during the second quarter, although FHA lending was up in the state. (Includes data chart.)
Fannie Mae, Freddie Mac and Ginnie Mae reported sharp declines in all delinquency categories during the first quarter of 2021, when loan performance typically improves. (Includes data chart.)
There are signs that the “adverse market refinance fee” is pushing some business away from Fannie and Freddie toward government mortgage insurance programs. (Includes two data charts.)
Private mortgage insurance provided most of the coverage for purchase loans securitized in the fourth quarter, while VA was the top guarantor of agency refi loans. (Includes data chart.)
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