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  • President Trump signs Dodd-Frank rollback into law

    President Donald Trump signed a major Dodd-Frank rollback into law Thursday, hoping to bring regulatory relief to community banks across the U.S. The president explained Dodd-Frank’s costly regulations gave large banks a negative advantage at the cost of small banks throughout the country. Click the headline to read more.

Items Tagged with 'Mortgage insurance'

ARTICLES

  • 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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  • Mortgage insurance companies push back against 50% DTI

    Increase credit score requirements
    Last year, the GSEs announced they were increasing their debt-to-income ratio to 50%, a move that mortgage insurance companies are starting to fight back against. "We are concerned with the recent increase of loans that have debt-to-income ratios exceeding 45%, particularly when combined with weaker credit profiles," one MI company explained.
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  • Radian continues restructuring; sells European mortgage services business

    Offloads Clayton EuroRisk to unnamed buyer
    Over the last several months, private mortgage insurer Radian Group has undertaken a restructuring effort in its services business, which is conducted through its principal subsidiary Clayton, and Clayton’s subsidiaries: Green River Capital, Red Bell Real Estate and ValuAmerica. On Wednesday, the company announced the latest move in its restructuring efforts.
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  • Genworth: 3% down mortgages key to lock in first-time homebuyers in 2018

    Where will credit expand in 2018?
    With overall mortgage originations projected to decrease in 2018, mortgage lenders are looking to first-time homebuyers to make up a large portion of their business. According to a new survey from Genworth Mortgage Insurance, the majority of lenders anticipate strong first-time homebuyer growth in 2018. So what type of mortgage products will they choose?
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