The legislation approved by the House of Representatives last week reauthorizing the National Flood Insurance Program through Sept. 30 is awaiting Senate action. The program's authority is scheduled to expire on May 31.
New primary mortgage insurance activity was down in the first quarter of 2019, but FHA and VA managed to expand their share of the market thanks to surging refinance business. Private MIs started the year slightly ahead of the pace in early 2018.
The one bright spot in the residential mortgage market last year was purchase-mortgage lending, which provided at least a faint glow in an otherwise dreary year for lenders. [Includes four data charts.]