Mortgage Insurance

FHFA Finalizes Reduction in Affordable Housing Requirements

dhollier@imfpubs.com — Fri, 09 Jan 2026 15:36:25 -0500

Housing advocates say the new, lower benchmarks generally favor middle- and working-class borrowers at the expense low-income and very low-income borrowers.

Profitability Gap on G-Fees Negative in 2024

dhollier@imfpubs.com — Fri, 09 Jan 2026 15:35:26 -0500

A negative profitability gap means the guarantee fees on newly acquired loans weren’t enough to cover the expected cost of guaranteeing the loans and earning the expected return on capital.

GSEs’ Risk Tied to Private MI Declining, OIG Finds

dhollier@imfpubs.com — Fri, 25 Apr 2025 14:36:39 -0400

Although high interest rates have cut into GSE acquisitions, depriving PMIs of new business, they have also prevented homeowners from selling, allowing insurers to hold on to the business they have.

Updated PMIERs Not Expected to Impact Insurers

dhollier@imfpubs.com — Fri, 23 Aug 2024 13:06:27 -0400

Even with the implementation of new asset haircuts and other restrictions into the private mortgage insurance eligibility requirements framework, GSE-approved insurers say they will still have large available asset buffers.

Housing Advocates Recommend Changes to EHFPs

dhollier@imfpubs.com — Fri, 14 Jun 2024 12:48:51 -0400

Stakeholders say the GSEs’ proposed definition of “first-generation homebuyer” in their equitable housing-finance plans unfairly excludes many of the people the enterprises and the FHFA want to help.

Loans with PMI Perform Worse; GSEs Still Protected

dhollier@imfpubs.com — Thu, 24 Aug 2023 12:30:09 -0400

According to Urban Institute, mortgage insurance payouts mean GSE losses on loans with LTVs over 80% are comparable to those on loans with LTVs below 80%.

Enact Back in Fannie’s and Freddie’s Good Graces

dhollier@imfpubs.com — Fri, 17 Mar 2023 13:52:29 -0400

The heightened PMIERS capital requirements set by the GSEs when Genworth let its mortgage insurance subsidiary go public have now been satisfied.

Little Impact on GSE Business Expected from FHA Premium Cut

dhollier@imfpubs.com — Fri, 03 Mar 2023 14:33:09 -0500

Will lower FHA premiums steal market share from the GSEs? According to analysts, private mortgage insurer pricing still makes the GSEs the better execution for borrowers with credit scores over 680. But private MIs are still nervous.

C-Level Positions Change Hands at Fannie, Freddie, USMI

dhollier@imfpubs.com — Fri, 16 Dec 2022 14:02:00 -0500

There are new faces in the C suite at Fannie Mae and U.S. Mortgage Insurers. And some Freddie Mac veterans got promotions this week.

G-Fee Hikes May be Needed to Replace LLPA Revenue

dhollier@imfpubs.com — Fri, 04 Nov 2022 15:16:00 -0400

By some estimates, the enterprises will have to increase guarantee fees by about 3 basis points to offset the lost revenue from FHFA's targeted elimination of LLPAs.

Mortgage Delinquencies Continue to Fall

dhollier@imfpubs.com — Fri, 23 Sep 2022 13:30:34 -0400

Loan performance at Fannie and Freddie leads overall delinquency rates to a two-decade low.

FHFA to Review the Role of the FHLBanks

dhollier@imfpubs.com — Fri, 29 Jul 2022 17:35:05 -0400

During a recent congressional hearing, FHFA Director Sandra Thompson said the agency will conduct a 90-year lookback as well as a forward-looking analysis of the FHLBank system.

Freddie Helps Push CRT Activity to Record in 2021

dhollier@imfpubs.com — Fri, 06 May 2022 14:32:05 -0400

Fannie and Freddie issued CRT on a record $1.052 trillion in UPB in 2021. That’s despite Fannie staying away for the first three quarters.

Freddie Adds New Option to Renovation Financing Offerings

dhollier@imfpubs.com — Fri, 06 Aug 2021 14:35:00 -0400

The new CHOICEReno eXPress loan allows homebuyers to incorporate the cost of minor repairs and renovations into their mortgage.

Genworth Puts Mortgage Insurance IPO on Hold

pmuolo@imfpubs.com — Fri, 14 May 2021 15:30:00 -0400

Has Genworth Financial found a buyer for its lucrative mortgage insurance subsidiary Enact? Or was it just Mr. Market and his valuation?

Battle Lines Drawn on FHFA’s New Product Rule

dhollier@imfpubs.com — Fri, 22 Jan 2021 14:00:00 -0500

Mortgage insurers have endorsed the proposed guidelines, even arguing the process should be made more transparent and objective. However, Quicken believes it will stifle innovation by the GSEs.

Don Layton’s Unconventional Cure for the Liquidity Crisis

dhollier@imfpubs.com — Fri, 10 Apr 2020 13:00:00 -0400

Former Freddie Mae CEO Don Layton suggests short- and long-term solutions for the liquidity problems faced by nonbank mortgage servicers.

Dem Senators: Are the GSEs Ready for Climate Change?

dhollier@imfpubs.com — Fri, 14 Feb 2020 13:00:00 -0500

Democratic senators ask Fannie and Freddie if they have attempted to model the risks associated with climate-related disasters, including floods, wildfires and extreme weather events.

PMI Advocates Dispute Don Layton on CRT

dhollier@imfpubs.com — Fri, 14 Feb 2020 11:30:00 -0500

Industry advocates point out that, unlike other forms of credit-risk transfer, private mortgage insurance stands in front of all other losses.

RFI Suggests FHFA to Clamp Down on PACE Financing

dhollier@imfpubs.com — Fri, 17 Jan 2020 10:20:00 -0500

The severity of some of the proposals in FHFA’s request for information on PACE financing suggests the agency intends to take some drastic steps.

Climate Change, Wildfires and the Risks Posed by the GSEs

dhollier@imfpubs.com — Fri, 15 Nov 2019 09:01:00 -0500

Over the last decade, the U.S. has averaged nearly 56,000 wildfires a year, covering more than 6.5 million acres, and destroying thousands of homes. The problem is acute enough that discussions are underway to create a reinsurance market for wildfire damage.

Private MI Business Down Sharply in Early 2019

jbancroft@imfpubs.com — Wed, 10 Apr 2019 11:09:00 -0400

The sharp downturn in purchase-money loans going into Fannie and Freddie MBS was accompanied by an even bigger drop in deliveries of loans with private mortgage insurance.

China Oceanwide’s Buy of Genworth Gets Final Nod

Fri, 11 Jan 2019 00:00:00 -0500

The slow-motion acquisition of mortgage insurance giant Genworth Financial by real estate and insurance conglomerate China Oceanwide got a significant nudge forward, when the Delaware insurance commissioner last month gave its final approval for the purchase.