GSE Private Mortgage Insurance Profile: 3Q16 PDF Format
Inside Mortgage Finance’s GSE Private Mortgage Insurance Profile: 3Q16 digs into the third quarter sales of PMI-covered loans to explore the particulars of such business lender by lender for 1,650 companies: 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.
You'll get these rankings:
- Ranking of the 1,650 lenders by volume of loans with private mortgage insurance. (Also presented in alphabetical order.)
- Ranking of the lenders by volume of loans originated in the broker or retail channels with private mortgage insurance. (Also presented in alphabetical order.)
- Ranking of PMI use by property state.
In the third quarter report, you'd learn:
- On average, 26.8 percent of loans sold to the GSEs in the third quarter carried private mortgage insurance. Among the firms delivering a much lower share of MI-covered loans: AIML (8.7 percent), Citimortgage (9.7 percent), Fremont Bank (3.6 percent), Impac Mortgage (5.8 percent), and Provident Funding Associates (7.3 percent).
- Of the $102.5 million in PMI-covered mortgages that BancorpSouth Bank sold to the GSEs in 3Q16, all were originated in the retail channel, 5.8 percent had a loan-to-value ratio above 95, and 77.6 percent were sold to Fannie Mae. On average, 6.6 percent of PMI-covered loans had LTVs above 95, 56.3 percent were originated in the retail channel, and 58.3 percent were sold to Fannie.
- California takes the cake as both the biggest market ($8.3 billion in private MI-covered loans in 3Q16) and the one with the lowest percentage of loans covered by PMI (just 13.2 percent). But there was plenty of untapped potential in #2 Texas as well. Even though $5.5 billion in mortgages sold to the GSEs had PMI, $13.1 billion in sold loans did not.
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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