However, despite the bad news on late payments and set-asides, MGIC wrote new insurance on $28.2 billion of residential product, an impressive sequential gain of 55.5%.

According to the S-1 initial public offering documents filed with the SEC, Rocket’s total share count (public and private) is roughly 1.9858 billion shares. At $22 a unit (the upper end of the range) that works out to a cool $43.69 billion. In short: Wow.

Wade takes the helm of the government’s mortgage insurer at a tumultuous time: FHA production is strong but the COVID-19-related forbearance rate on such loans are beginning to inch up as the employment picture worsens.

The biggest gain in the government market was in VA loans, where quarterly volume was up 23.5%...

An open question mark, the proposed Genworth-Oceanwide merger was first announced in 2016...

Ginnie Mae said it is concerned that issuers could abuse buyouts and "undermine the integrity of the MBS program."

Timing is everything. The majority of the loans, 63.0%, went into forbearance status in April and many of these borrowers may have already made their May payment.

The stock sale comes at an interesting time for the mortgage industry in general and MIs in particular...

A year ago, IRRRL activity totaled just $1.99 billion. In the first three months of 2020, it rocketed to $42.01 billion.