The shift from refinance to purchase-mortgage lending helped boost the share of new agency business with primary mortgage insurance during the third quarter.
Surging purchase-mortgage business helped boost market shares for the FHA and private mortgage insurers, but the biggest factor was a sharp decline in VA business. (Includes three data charts.)
The shift in focus from refinance to purchase mortgages helped boost the secondary market in FHA and private MI loans, while the VA and uninsured conventional markets saw declines. (Includes three data charts.)
A greater concentration of refinances in the primary market led to a sharp drop in the private MI share of new primary insurance business. And the FHA actually posted a bigger gain in refi endorsements than the VA. (Includes three data charts.)
The seasonal housing market slowdown had a bigger impact on private MI business in the first quarter. New restrictions on Fannie/Freddie acquisitions of purchase loans with layered credit risk may hit the private MI sector the hardest. (Includes three data charts.)