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  • Mercury Network acquires Platinum Data Solutions

    In a move that is one of the first of its kind for the industry, Mercury Network, an appraisal management system, announced it acquired Platinum Data Solutions, a QC technology company. In light of the changes, HousingWire talked with Will Clemens, CEO of Mercury Network, and Phil Huff, CEO of Platinum Data, to see how the change fits perfectly into both of the companies.

Lending The Ticker

Private mortgage insurers stage a comeback

Activity fueled by lower mortgage delinquencies

pile of paper

According to CNBC, private mortgage insurers (MI) have emerged from the deep abyss they fell into during the financial crisis, with six key MI firms writing nearly $49 billion in new business in the second quarter, up 27% from the first quarter. CNBC highlighted a few other successes within the firms' portfolios:

"Delinquencies are down, and the companies have recapitalized," said Bose George, an analyst at Keefe Bruyette & Woods. "At the same time, FHA is reducing its role in the market, so this has given them significant growth opportunities. ... The companies have reversed their position and are starting to show modest profitability."

Source: CNBC
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