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Inside Mortgage Finance

May 13, 2010

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Private MIs May Have Stopped the Bleeding In Early 2010, Prosperity Is Another Issue

Total new primary market mortgage insurance activity declined 16.2 percent during the first quarter of 2010, but the struggling private MI industry managed to avoid further declines in its share of the shrinking market, according to a new Inside Mortgage Finance analysis and ranking. New primary insurance written by private MIs slipped slightly less, by 16.1 percent... [Includes two charts and one graph] Read More

Captive Mortgage Reinsurance Programs Pared Down in 2009 as MIs Recover More Premiums

The flow of mortgage insurance premiums to captive reinsurance entities controlled by major mortgage lenders declined significantly in 2009, with two private MIs dramatically scaling down their programs. Private MIs ceded a total of $732.7 million in premiums to lender captives last year, a 30 percent decline from the amount ceded in 2008, according to a... [Includes one chart] Read More

Senate Spurns GOP Bid to Tackle GSE Conservatorships, Accepts New Home Mortgage Underwriting Standards

The Senate this week moved to toughen federal mortgage underwriting requirements while rejecting a Republican proposal to significantly scale back Fannie Mae and Freddie Mac as lawmakers slogged through a growing list of amendments – now over 240 – to the Restoring American Financial Stability Act of 2010, S. 3127, the massive regulatory reform bill for the financial services markets... Read More

Credit Losses, Delinquencies, Nonperforming Loans Still Key as Fannie, Freddie Lose Another $18 Billion

Fannie Mae and Freddie Mac are seeing some hopeful signs of stabilization in the housing market, but their first quarter results suggest plenty of choppy water remains, as the two government-sponsored enterprises lost another $18.2 billion for the period.Credit losses continue to be a major factor. Fannie reported $5.1 billion in credit losses during the first quarter of... Read More

Obama Administration Rolls Out Relief Program for Unemployed Borrowers

Effective July 1, homeowners who have lost their jobs will be eligible for mortgage forbearance plans under a new component in the Obama administration’s Home Affordable Modification Program. Servicers will have considerable leeway in administering the Home Affordable Unemployment Program. The minimum forbearance period is three months under HAUP, although servicers may extend it... Read More

Consensus at Realtor Meeting: Housing Market is On the Mend But a ‘Double Dip’ is Still Possible

Recovery in the housing market is coming along slowly but surely and there has been some growth, but the situation is still very fragile and volatile and could cause severe problems for the economy, according to panelists at a real estate industry conference this week. Phyllis Caldwell, chief of the Treasury Department’s Homeownership Preservation Office, told... Read More

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