Home >> Tag Archives: Mortgage Insurance (page 10)

Tag Archives: Mortgage Insurance

MGIC to Offer Insurance Through Ellie Mae’s Encompass360

Mortgage Guaranty Insurance Corporation (MGIC) announced it is now offering mortgage insurance through Ellie Mae's Encompass360 mortgage management software. Through the integration, Encompass360 users can order MGIC rate quotes and mortgage insurance without leaving the platform.

Read More »

U.S. Sues Wells Fargo over Underwriting of FHA Loans

Wells Fargo faces federal charges for alleged misconduct and fraud related to its role as a direct endorsement lender for the Federal Housing Administration (FHA) over a span of more than 10 years. The civil lawsuit was filed Tuesday in a Manhattan federal court and alleges Wells Fargo falsely certified the credit and underwriting quality of thousands of FHA loans it originated which later defaulted, costing the federal agency hundreds of millions of dollars.

Read More »

MICA Reports Continued Increases in Private Insurance

The number of borrowers using private mortgage insurance (MI) continues to climb, according to the latest monthly statistical release from Mortgage Insurance Companies of America (MICA). MICA's member companies - which include Genworth US Mortgage Insurance, Mortgage Guaranty Insurance, and Radian Guaranty - reported $397.5 billion in primary insurance during August, an increase from $396.4 billion in July. The total tally for primary insurance received a boost from reported monthly increases in volume, certificates issued, and applications.

Read More »

Delinquency Tide May Tip the FHA Toward Insolvency: Fitch

Times haven├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ót been too swell for the Federal Housing Administration. That was apparent, by some accounts, when the agency raised insurance premiums for lenders of single-family mortgages in February, a choice it made to shore up its crisis-weary Mutual Mortgage Insurance Fund. Now, according to Fitch Ratings, a new tide of mortgage delinquencies and price declines may tip the fund back toward troubled waters ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô and possibly insolvency. A down-payment requirement on its may well worsen matters for the FHA.

Read More »

Report: Small, Midsize Servicers to Lose Most Under New Rules

The Consumer Financial Protection Bureau strikes once more ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô against the little guy, according to recent reports. One of those came from analysts with Moody's Investors Service on Thursday. Their report suggests that a tide of new rules from the credit bureau will likely impose "costly" and "challenging" new costs on small to midsize servicers. As for the bigger guys? Analysts say they may just walk away from the rules without a scratch. And theirs isn't the first report to say as much. Read more to learn why.

Read More »

Radian Guaranty Sees Growth in New Insurance

Radian Guaranty Inc. released data for primary mortgage insurance delinquencies for July, revealing growth in primary new insurance and a drop in delinquent loans. According to the release, Radian wrote $3.37 billion in primary new insurance for the month of July, an increase from $3.08 billion in June. In addition, loan delinquency was down in July, with primary delinquent inventory falling to 97,012 from 98,450 the month before. This release followed a more dismal earlier report on the company's second-quarter financial earnings.

Read More »

Mortgage Insurers Write $396B in New Insurance in May

Mortgage Insurance Companies of America released on Friday its monthly statistical report showing that member companies reported a total of $396 billion in primary insurance in force for May. This total is down nearly $1 billion from April and is the lowest total in a year-long fall. Member companies received 38,355 mortgage insurance applications for May, and 35,431 borrowers used private mortgage insurance to buy or refinance a home. Both figures are relatively large jumps up compared to flatter increases.

Read More »