Insured-Mortgage Business Posted Solid Gain in 2Q17, But Refi Swoon Hit Uninsured Segment
July 13, 2017
Although Fannie Mae and Freddie Mac saw a 13.1 percent drop in new single-family business during the second quarter, the flow of home loans covered by private mortgage insurance was up, according to an exclusive analysis and ranking by Inside Mortgage Finance. The two government-sponsored enterprises acquired some $57.17 billion of single-family loans with private MI coverage during the second quarter, including a small amount of modified mortgages. That represented an increase of 9.8 percent from the first quarter. But the flow of loans without MI coverage sank 18.6 percent. The key factor was...[Includes three data tables]