Items Tagged with 'Mortgage insurance'

ARTICLES

  • FHA: Life of loan policy to remain, but agency considering options

    FHA commissioner says agency has discussed changes to life of loan policy
    It looks like there won’t be any significant changes to the FHA's mortgage insurance program this year. Earlier this week, new FHA Commissioner Brian Montgomery told a group of reporters that there likely won’t be a cut to the FHA’s mortgage insurance premiums this year. And it appears that there won’t be any changes to the life of loan policy either.
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  • FHA commissioner: Mortgage insurance premium cut not likely in 2018

    Brian Montgomery says premium cut probably not happening this year
    The Federal Housing Administration broke a few hearts last year when it announced back in November that there would not be any cuts to its mortgage insurance premiums after its flagship insurance fund turned in a weaker-than-expected performance in fiscal year 2017. Those holding out hope for a cut to the FHA’s MI premiums this year should not be holding their breath, the FHA’s newly minted commissioner said Tuesday.
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  • China Oceanwide’s $2.7 billion acquisition of Genworth Financial clears one big hurdle

    Receives approval from Treasury Department’s Committee on Foreign Investment
    China Oceanwide Holdings Group’s $2.7 billion acquisition of Genworth Financial, one of the U.S.’s largest mortgage insurers, is now one step closer to fruition, as a governmental inter-agency committee that oversees foreign investment in the U.S. has cleared the deal.
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  • Radian announces decrease to mortgage insurance premiums

    Borrowers to save an average 6%
    Radian Group announced a decrease in its overall mortgage insurance premium rates. While some rate types could actually see an increase due to Radian’s changes, the average savings passed on to borrowers will be about 6%. Here’s everything you need to know about the new price changes.
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  • China Oceanwide’s $2.7 billion acquisition of Genworth Financial still on hold

    Deal still pending after 18 months
    It’s been 18 months since China Oceanwide Holdings Group, one of China’s largest companies, announced that it planned to buy Genworth Financial, one of the U.S.’s largest mortgage insurers, for $2.7 billion, but the deal still isn’t done yet. The deal was initially expected to close in the middle of last year, and now, the closing is delayed again.
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  • UWM introduces 90% LTV jumbo loan with no MI

    Allows for mortgages up to $1.5 million
    United Wholesale Mortgage announced it is launching a new jumbo loan product which would allow borrowers to place 10% down with no mortgage insurance. The jumbo loan would allow for homebuyers to take out a mortgage of up to $1.5 million on a 90% loan-to-value mortgage.
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  • Fannie Mae prepares for DU update after flood of high DTI mortgages in Q4

    Adjusts credit risk assessment to limit risk layering
    Fannie Mae is currently preparing to update its Desktop Underwriter to its newest version, 10.2, after seeing an increase in high debt-to-income mortgages in 2017's fourth quarter. The company announced that after assessing the profile of loans delivered since the DU 10.1 changes went into effect, it is fine-tuning DU’s risk assessment to limit risk layering.
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  • MI companies creating new standard for over 45% DTI mortgages

    More companies prepare to raise standards
    More mortgage insurance companies continue to fight against mortgages with debt-to-income ratios of 45% to 50% as they prepare to raise their standards. Last week, HousingWire outlined plans from MGIC and Genworth to increase their standards on high DTI loans, but as it turns out, that was just the tip of the iceberg.
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