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FHA premium cancellation bill reintroduced in the House

FHA, LOAN PRODUCTS, Originations, PMI, Politics and policy, Servicing /

A bipartisan bill looking to end the Federal Housing Administration’s life-of-loan requirement for that form of mortgage insurance coverage has been reintroduced in the House of Representatives. The Mortgage Insurance Freedom Act was previously introduced in last year’s lame duck session of Congress by Rep. Gregory Meeks, D-New York, and Rep. Pete Sessions, R-Texas. Under […]

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Radian says hi to specialty insurer, bye to conduit, title

Housing markets, M&A, PMI, Underwriting /

Radian Group is diversifying its operations away from real estate finance, exiting its businesses outside of mortgage insurance and purchasing a specialty underwriter. In related moves, Radian will be acquiring Inigo Limited, a Lloyds specialty insurer for $1.7 billion in what it termed “a primarily all-cash transaction.” Meanwhile, in what Radian lately has called its

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Mortgage insurers commit to using VantageScore 4.0

LOAN PRODUCTS, Originations, PMI, Secondary markets, Underwriting /

The U.S. Mortgage Insurers repeated its commitment for members to work with the Federal Housing Finance Agency to implement VantageScore 4.0. In an Aug. 27 blog post, the group said it welcomed FHFA Director Bill Pulte’s announcement permitting Fannie Mae and Freddie Mac to accept loans using the VantageScore 4.0 algorithm and its members will

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FHA poised to outpace private mortgage insurers

FHA, Housing markets, Originations, PMI, Secondary markets, Underwriting /

The Federal Housing Association is likely to continue to take market share away from the private mortgage insurers for the foreseeable future, a Keefe, Bruyette & Woods report said. Insurance-in-force for all forms of mortgage insurance grew by 1.3% between the first and second quarters and by 5.5% year-over-year, the report from Bose George and

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KBW cuts ratings on mortgage insurers

Distressed, LOAN PRODUCTS, Mortgage insurance, Originations, PMI /

Even though Keefe, Bruyette & Woods has downgraded the stock rating on three of the five private mortgage insurers it covers, its analysts are still relatively bullish on the segment. Radian, Essent and NMI Holdings have all been dropped to a market perform rating from outperform in large measure because of their strong performance year-to-date,

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Senate reconciliation proposals would help, hurt housing

Housing markets, Investments, PMI, Politics and policy /

Provisions restoring the mortgage insurance premium deduction are included in the Senate reconciliation bill, the latest path for its supporters to bring it back to the Tax Code. It is one of several real estate and housing provisions up for debate, including one that addresses low income housing tax credits. The MI deduction first was

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