Deliveries to Fannie Mae and Freddie Mac of mortgages with private MI more than quadrupled from the third quarter, hitting $6.58 billion in the fourth quarter.
Sen. Elizabeth Warren, D-MA, the ranking member of the committee, said she was prepared to vote in favor of Turner’s nomination but first wanted to see results from a pending background check on the nominee by the Federal Bureau of Investigation.
The brunt of insurance burdens tied to natural disasters fall on property insurance providers, though private MIs could see an uptick in delinquencies.
The settlement includes $19.4 million in disgorgement of profits the SEC said BMO generated between December 2020 and May 2023 through misleading sales of agency CMOs.
Agency refis with primary MI skyrocketed in the fourth quarter of 2024 while purchase-mortgage business declined somewhat. Lenders tightened underwriting standards on refis as volume flowed. (Includes three data tables.)
The Trump administration will likely take starkly different positions on housing and the mortgage market compared with the Biden administration. Expect changes at the GSEs, while a reduction to FHA mortgage insurance premiums looks unlikely.
WaFd Bank is ending its mortgage origination activity; TD Bank is considering selling jumbo mortgages; some banks are still increasing their mortgage business; President Trump issues order on housing, freezes regulatory efforts.
“The totality of indicators in recent months suggests that neither aggregate demand in the economy nor inflation pressures eased by as much as was previously expected,” the economic team wrote.