In the purchase-mortgage market, private MIs lost some share compared with the fourth quarter of 2024. Though the private MI share was up compared with the first quarter of 2024. (Includes two data tables.)
Refi business moved toward lower LTV ratios and lower credit scores in the first quarter. Characteristics for purchase mortgages held steady compared with the fourth quarter of 2024. (Includes two data tables.)
The nonbanks took negative marks on their large holdings of mortgage servicing rights as hedges didn’t fully offset a decline in interest rates on mortgages during the first quarter.
Amerant Bank launched national mortgage operations in 2021. Now, the bank is reducing its footprint, focusing on lending in Florida where its bank branches are located.