Private mortgage insurers who are members of the Mortgage Insurance Companies of America assisted 46,440 U.S. households with refinancings through the government’s Home Affordable Refinancing Program in the third quarter.
All of that aid totaled $9.05 billion, MICA said.
Members of MICA, which includes Genworth Mortgage Insurance Corp. (GNW) Mortgage Guaranty Insurance Corp. (MTG) and Radian Guaranty Inc. (RDN), also reported that 6,143 households insured by MICA-member companies received Home Affordable Modification Program aid, amounting to $1.1 billion in total assistance.
Another 7,234 borrowers had their loans modified, accounting for $1.4 billion in mortgage aid.
In the past three years, MICA member companies noted the number of mortgages insured by private insurers on HARP, HAMP or other modified loans equaled roughly $86 billion and equates to 496,961 households receiving aid.
