GSE Private Mortgage Insurance Profile: 2Q15 PDF format

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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 1,581 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.

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.

In the second quarter:

• Of the $85.0 million in PMI-covered loans Santander Bank sold to the GSEs, 55 percent came through the retail channel and 40.7 percent from brokers.
• Citimortgage sold $447.4 million of PMI-covered loans to the GSEs. But that was just a small sliver—a mere 8.5 percent—of all the loans Citi sold to Fannie and Freddie in the three-month period.
• Prosperity Home Mortgage included $10.9 million in PMI-covered loans with a higher loan-to-value ratio (96 to 97 percent) in its 2Q GSE sales—more than 5 percent of its MI-GSE business for the quarter.
• The retail channel accounted for 68 percent or more of the PMI-covered loans sold to the GSEs in Alaska, Indiana, Michigan, Ohio, Vermont, Washington state and Wisconsin. Across all states and territories, retail brought in 57.3 percent.