Mortgage Insurance

Browse articles from all of our Newsletters related to Mortgage Insurance.

December 14, 2018 - Inside FHA/VA Lending

FHA Drops Warranty Requirements for New Single-Family Construction

The Department of Housing and Urban Development has issued a final rule streamlining single-family home-warranty requirements for FHA insurance.


December 7, 2018 - Inside Mortgage Trends

MI Genworth Launches Risk-Based Pricing Engine

Genworth Mortgage Insurance has joined the private MI fledgling risk-based pricing club with the launch of its new proprietary risk-based pricing engine, GenRATE. GenRATE allows customers to opt for risk-based pricing or choose from Genworth’s standard published rate card. “Demand for more dynamic pricing is growing,” said Rohit Gupta, Genworth’s president and chief executive officer. “Offering the option of either rate card or risk-based pricing is the best way to show lenders that ...


November 16, 2018 - Inside FHA/VA Lending

HUD Works on Deal with DOJ to Limit FCA Use to Serious Violations

A memorandum of understanding is in the works at the Department of Housing and Urban Development to clarify the use of the False Claims Act in FHA enforcement. At the same time, the department is considering seeking statutory authority for the Mortgagee Review Board to impose stiffer penalties on lenders for violations that do not require a False Claims Act response. (See following story.) During a public policy luncheon hosted by the Washington-based Women in Housing and Finance this week, HUD Assistant Secretary and FHA Commissioner Brian Montgomery said the draft MOU would provide a “level of fairness” in terms of whether the FCA or some other mechanism would be appropriate. Montgomery did not discuss specifics but said the memo would ensure that HUD has a say in what type of offense would qualify for a false claim. Montgomery gave no timeframe for when the ...


November 16, 2018 - Inside FHA/VA Lending

MMIF is Sound, Latest Audit Finds; Forwards Cover More HECM Losses

The FHA’s Mutual Mortgage Insurance Fund is generally healthy but for its Home Equity Conversion Mortgage program, according to the latest FHA audit of the MMIF. In its 2018 report to Congress this week, the Department of Housing and Urban Development had good and bad news regarding the financial condition of the insurance fund. The good news is that the economic value of the MMIF, which backs the FHA’s single-family loan programs, increased to $34.7 billion in fiscal 2018 from $26.7 billion a year ago. Total capital resources rose to $49.2 billion from $40.9 billion during the same period. For the fourth consecutive year, the fund exceeded its statutory capital reserve ratio of 2.00 percent. The ratio rose to 2.76 percent in 2018 from 2.18 percent last year. Premium reductions, had they been in effect, would have reduced the fund’s economic net worth and dropped its capital ratio, industry ...


November 15, 2018 - Inside Mortgage Finance

Private MIs Gobble Up More Market Share in Third Quarter Despite Growth in FHA Sector

Private mortgage insurers expanded their combined footprint in the primary MI market during the third quarter mostly because of a sharp downturn in VA home loan guaranty activity. [Includes two data charts.]


Poll

With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.

45%

Yes, but only incrementally.

16%

We’re pondering a move into non-QM, but haven’t made up our mind.

13%

No, definitely not. We view it has too risky.

26%