Urban Institute: Qualified Mortgage impact overblown

Urban Institute: Qualified Mortgage impact overblown

New rules have only slightly slowed mortgage lending

WATCH: Former Wells Fargo CEO calls BofA fine “extortion”

Kovacevich says fine is political and has “nothing to do with justice”

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch
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Items Tagged with 'Mortgage insurance'

ARTICLES

Goldman hired for Radian Asset selloff

Pending private mortgage insurance rules speed up process
Brena Swanson
Radian hired Goldman Sachs to evaluate interest in its financial guaranty business Radian Asset, according to Radian. The company has been in the runoff since 2008.
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Executive Conversations: Richard Izen of Arch MI on PMIERs

Arch Capital becomes a direct provider of mortgage insurance
Sarah Wheeler
We fully support these important efforts by the GSEs and FHFA to set standards for approved mortgage insurers.
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MGIC: Delinquencies on file drop in June

Writes $3.2 billion primary new insurance
MGIC Investment Corporation wrote $3.2 billion primary new insurance in June, a jump from $2.8 in May.
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FHFA seeks to reduce private insurance risk

Calls for input on draft requirements
Brena Swanson
The Federal Housing Finance Agency is trying to reduce its credit risk after taking a giant hit from the financial crisis. As a result, it is seeking input on drafting new requirements that would apply to private mortgage insurance companies.
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Tight credit standards, high FHA rates could be a boon for private mortgage insurers

Market share has nearly tripled in four years
Ben Lane

With purchase originations expected to hit the highest level since 2008, private mortgage insurers are about to be in prime position to reap the benefits.“We expect that the recovery in the housing market and the resulting increase in purchase originations mean that private MIs should see a boost in business,” said Bradley Shuster, president and CEO of NMI Holdings, Inc.


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Cash Flow Worksheets offer efficient, compliant answer
Author Test
Correctly evaluating the income of self-employed borrowers is a challenge for mortgage lenders and underwriters, who are under more regulatory pressure than ever. To meet the need for a simple, accurate process, MGIC has developed its editable, Cash Flow Worksheets, which guide users through an easy-to-use form with line-by-line instructions. (An HW PartnerDirect article)
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From HW Magazine

Radian: Back from the brink

Will the mortgage insurer falter in a crowded space and as housing loses momentum?
Mortgage insurance has always been an interesting sector for investors -- and at times, a maddening one to understand. Yet, at the core, mortgage and related insurers are driven by a simple dynamic: how much revenue they can generate off of policy underwriting and premiums, and the loss experience they face against those same policies.
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Fewer mortgage defaults drive MGIC profit

Expenses are also down at mortgage insurer
Jacob Gaffney
"I feel the company is in an excellent position to take advantage of the housing recovery," said Curt Culver, CEO of MGIC.
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National Mortgage Insurance Corp. now licensed in all 50 states

Ben Lane
Company's licensing approval in Wyoming means it's licensed in all 50 states and the District of Columbia.
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FHA to Realtors (and everyone else): We’re not lowering rates

But acknowledged that rates may have reached a “tipping point” that could drive buyers away
Ben Lane
"Now is not the time to roll those premiums back," Federal Housing Administration Commissioner Carol Galante said. "Right now we are priced appropriately and are reaching out to creditworthy individuals.”
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