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Volume 11 - Number 5

March 9, 2018

Private MI Accounts for Bigger Chunk of Primary MI Market in 4Q

Private MIs seized a bigger share of the market in 2017, even as VA rebounded strongly in the fourth quarter, an Inside Mortgage Finance analysis of the primary MI market found. Private MIs wrote $69.9 billion in new flow business in the fourth quarter, down 9.7 percent from the previous quarter. Private MI business accounted for 39.2 percent of total primary MI written in the quarter while FHA lost ground after business dropped 10.9 percent, leaving it with a reduced 33.3 percent market share for the period. After having a stellar year in 2016, VA lending eased to 24.1 percent of the primary MI market last year – still its third-best year since the financial crisis. The tiger in VA’s tank was refinance, which accounted for 44.1 percent of the agency’s lending, compared to just 9.8 percent of private ...

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With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
No, definitely not. We view it has too risky.

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