FHA gained share in the primary MI market during the second quarter, although private MI remained the dominant form of credit coverage. Enact MI maintained a narrow lead in year-to-date new insurance written. (Includes four data charts.)
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With employee counts shrinking and Wells Fargo exiting the correspondent channel, lenders reported an increase in margins in the second quarter.
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Some industry stakeholders are portraying the proposed capital requirements on mortgage assets as an existential threat, one that might indirectly hurt independent nonbanks. But perhaps those fears are overblown.
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Banks are in cost-cutting mode as high interest rates and looming changes to capital requirements have led to uncertainty in the mortgage market.
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The Federal Trade Commission, Black Knight and Intercontinental Exchange have filed a joint stipulation for dismissal of FTC’s antitrust lawsuit.
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The rate of appraisals in high minority census tracts that were below the final contract price has fallen post the creation of the PAVE task force.
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In the purchase loans securitized by the agencies in the second quarter, the biggest gain was in GSE loans with no primary MI coverage. (Includes three data charts.)
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