Private MIs Finish 2012 With Their Strongest Year Since 2008, Rebound in Market Share
February 14, 2013
Private mortgage insurers in 2012 posted their best year since the financial market collapse back in 2008 and suddenly after being largely left as roadkill in the governments bailout program are attracting new capital. Private MIs reported $174.81 billion in total new insurance written in 2012, more than doubling the amount of business they did the year before, according to a new Inside Mortgage Finance ranking and analysis. With the FHA and VA programs growing at a more deliberate pace, it boosted the private MI share of the primary mortgage insurance market to 32.0 percent, up from 22.7 percent in 2011. A significant part of the private MI rebound came...[Includes three data charts]