Items Tagged with 'Mortgage insurance'

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Ben Carson pledges to "really examine" latest FHA mortgage insurance premium cut

Confirms that Trump team was not consulted on Obama administration’s decision
Earlier this week, Julián Castro, the outgoing Secretary of the Department of Housing and Urban Development, told reporters that he does not expect the incoming Trump administration to repeal HUD’s decision to cut Federal Housing Administration mortgage insurance premiums. On Thursday, Ben Carson, President-elect Trump's choice to lead HUD, said the the incoming administration plans to "really examine" the Obama administration's decision before determining a course of action.
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FHA cuts mortgage insurance premiums again

"Most new mortgages" will see cut of 25 basis points in annual premiums
When the FHA announced late last year that its flagship fund, the Mutual Mortgage Insurance Fund, grew for the fourth straight year, it led many to question whether we would see a cut to mortgage insurance premiums again. Now we have an answer.
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Done deal: AIG finalizes sale of United Guaranty to Arch Capital Group

Initial reports placed sale price at $3.4 billion
American International Group officially closed the sale of its mortgage-guaranty unit United Guaranty to Arch Capital Group on Dec. 31, 2016, the companies announced Tuesday morning. Initial reports of the deal placed the sale price of United Guaranty at approximately $3.4 billion, but the companies did not disclose a final sale price.
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Strong FHA annual report stirs up calls for mortgage insurance premium cut

Mutual Mortgage Insurance Fund grows for 4th straight year
Ed Golding, the Department of Housing and Urban Development’s principal deputy assistant secretary for housing, said Tuesday that the Federal Housing Administration is not considering cutting its mortgage insurance premiums, despite the FHA’s flagship fund showing growth for the fourth year in a row. But is the FHA’s current plan misguided? Several organizations think so.
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FHA single-family business explodes; No premium cut coming

Actuarial report shows MMI fund at 2.32%, up from 2.07% in 2015
The Federal Housing Administration announced Tuesday that its flagship fund, the Mutual Mortgage Insurance Fund, grew in fiscal 2016, marking the MMI Fund’s fourth straight year of growth, but that doesn’t mean that an additional cut to the FHA’s mortgage insurance premiums is coming.
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Radian, Arch MI 3Q results are in and they look good

Volume hits new record
Results for the third quarter of 2016 continue to pour in for the mortgage industry. The latest on the ticket are mortgage insurance companies Arch MI and Radian. The results from both company share a common theme: the mortgage insurance business is booming.
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China Oceanwide buying Genworth Financial for $2.7 billion

Company plans to "strengthen" mortgage insurance business
Private mortgage insurance is booming right now, and one of China’s largest companies wants in. China Oceanwide Holdings Group announced Monday that it plans to buy Genworth Financial, one of the U.S.’s largest mortgage insurers, for $2.7 billion. Here's more on the deal and why the companies feel it's a win for both parties.
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Executive Conversation: Justin Vedder on certified loans

Altisource addresses manufacturing risk on the front end with CastleLine Certified Loans
There is a lot of value in looking at the manufacturing risk upfront, particularly because it can significantly decrease the likelihood of future loss. Most investors price credit risk, so the certification process allows the investor community to get back to managing credit risk rather than focusing on manufacturing risk.
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Arch MI launches Road to Homeownership toolkit

Designed to help lenders attract first-time homebuyer business
Arch MI's toolkit includes a customizable PowerPoint presentation outlining the mortgage process, interactive worksheets to calculate their financial eligibility and budget for a future home. “Our Roadmap to Homeownership enables lenders to reach out to, educate and encourage this audience by setting up their own home-buying seminar using the toolkit’s materials,” said Leslie Gibin, Arch MI’s vice president for client risk management.
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