As retail and correspondent loan sales to the agencies fell by 20%, lenders became visibly less discerning about credit quality, with credit scores dropping and DTI/LTV ratios rising. (Includes two data charts.)

Private mortgage insurers gained share in the primary MI market in the first quarter of 2022, helped by purchase-mortgage activity. VA loans accounted for the majority of refis with primary MI during the period. (Includes two data charts.)

The reason: Single female borrowers are generally less affluent than single male borrowers, have lower incomes and take out smaller loans, according to researchers at the Urban Institute.