Sales to Fannie and Freddie of refinance loans with private MI coverage rose 61.8% from the third to the fourth quarter last year. But the VA program remained the most refi-intensive sector.
A new paper published by Harvard University found that VA lending is strongest in areas near major military installations. Another finding: VA lending as a share of all mortgages has increased faster in places with higher concentrations of veterans or active-duty personnel.
Average home insurance premiums have risen in every state in the last decade largely due to the increased frequency and severity of natural disasters, a study by LendingTree’s QuoteWizards found.
California remained the largest source of insured home loans securitized by Fannie, Freddie and Ginnie in the second quarter, and it had relatively large concentrations of FHA and VA mortgages.
Private mortgage insurers could have excess capital of nearly $2 billion by the end of 2019, analysts predict. A recent report from Keefe, Bruyette & Woods suggests the combination of private mortgage insurers’ high returns on equity and increasing use of reinsurance through insurance-linked note deals is creating the largesse. All of the nation’s six active MIs are publicly traded or are owned by a parent company that is. From 2016 through 2018, private MI’s insurance-in-force grew at ...
Ginnie Mae securitized $31.39 billion of FHA single-family purchase loans during the first quarter of 2019, according to a new Inside Mortgage Trends analysis of agency mortgage-backed securities disclosures. Although that represented an 18.4% drop from the previous quarter, the FHA share of agency purchase loans edged up to 30.8% in early 2019 as other insurance programs saw larger declines. Private mortgage insurance remained ... [Includes one data chart.]
Private mortgage insurers continued to expand their presence in the flow of purchase-money mortgages into mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae. In 2018, lenders sold $243.54 billion of purchase loans with private MI coverage to Fannie and Freddie, a sturdy 13.8 percent rise from 2017, according to an Inside Mortgage Trends analysis. Private mortgage insurance accounted for 46.8 percent of agency ... [Includes two data charts]