Private MI Market Share Reached Post-Crash High In 2Q14; Industry Profitability Continues Climbing
August 14, 2014
Private mortgage insurance companies continued their roll during the second quarter of 2014, capturing a larger share of the primary MI market away from the faltering FHA program, according to a new Inside Mortgage Finance analysis. Private MIs reported a total of $44.19 billion of new primary mortgage insurance written during the second quarter, a 38.0 percent jump in new business from the first three months of 2014. Private MIs accounted for 41.4 percent of total primary MI new business, the industry’s highest share of the market since the second quarter of 2008, when the housing market landslide was gaining speed. The Veterans Administration’s home loan guaranty program is also building...[Includes three data charts]