GSE Private Mortgage Insurance Profile: 4Q14 PDF format
In the quarterly report GSE Private Mortgage Insurance Profile, Inside Mortgage Finance looks at the details of this business: what volume of PMI-covered loans each lender sold, what the loan-to-value ratios were, how much of the lender’s GSE sales had PMI coverage, what channel the loans originated in, and which GSE the loans were sold to.
In the report, you’ll find charts
Ranking the 1,544 lenders by volume of loans with private mortgage insurance,
Ranking the lenders by volume of loans originated in the broker or retail channels with private mortgage insurance, and
Ranking states where PMI-insured loans were originated.
In the fourth quarter:
- More than a quarter of loans sold to Fannie Mae and Freddie Mac carried private mortgage insurance. Among sellers delivering $10 million or more in loans during the quarter, the share of GSE sales with MI varied from 65.6 percent (First Federal Savings & Loan, Ohio, the 252nd largest seller) to 3.8 percent (Fremont Bank, at #198).
- Nearly all of the MI-covered loans sold to the GSEs (96.8 percent) had a loan-to-value ratio between 85 and 97. For U.S. Bank, loans with slightly higher LTV, between 96 and 97 percent, made up 6.3 percent of sales.
- For the market in total 73.7 percent of loans originated through the retail or broker channels and sold to the GSEs with MI coverage were for home purchase. For most lenders, purchase loans made up even more of the mix. Exceptions included Quicken Loans (28.8 percent purchase loans), Green Tree Servicing (2.9 percent), State Farm Bank (53.7 percent), and American Financial Resources (53.6 percent).
The data in this report will help you learn who is using private mortgage insurance, how heavily they are relying on it for their GSE business, and what the characteristics are of the typical loan that they are insuring.
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