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Volume 18 - Number 20

September 28, 2018

GSEs Release PMIERs 2.0, Little Changed in Required Assets

After much anticipation from the mortgage insurance industry, Fannie Mae and Freddie Mac released their updated requirements that private MIs must meet to be eligible to provide mortgage insurance on GSE loans. This is the first time the requirements have been revised since being introduced in 2015. Dubbed PMIERs 2.0, the new private mortgage insurance eligibility requirements will go into effect in March 2019. They serve as a way for Fannie and Freddie to better manage counterparty risks by detailing financial and operational eligibility requirements that private mortgage insurers need to meet, especially as PMIs play a large role in high loan-to-value lending.

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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.
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No, definitely not. We view it has too risky.

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