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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.

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MBA’s Stevens, SunTrust Backtrack on Leadership Change

The Mortgage Bankers Association announced Monday that president and CEO David H. Stevens will continue with the organization instead of joining SunTrust Mortgage as originally planned. SunTrust had announced that Stevens would join the company as president, a move that would leave the trade group to pursue a new president and CEO. "The past few weeks have been extremely difficult for me personally and professionally. After serious thought and consideration, I simply cannot leave the MBA at such a critical time for the industry and the association," Stevens said in a statement.

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WFG Title Expanding in Orange County, California

WFG Title Insurance Company is expanding its industry footprint. The organization, which is part of the Williston Financial Group family of companies, recently announced plans to open a retail title office in Irvine, California.

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Soccer Star Lists U.S. Estate, Considers U.K. Move

Superstar soccer player Landon Donovan has put his California estate on the market. According to Zillow's blog, Donovan has listed his home in Manhattan Beach, California, for $4.295 million. The property, which was once featured on MTV Cribs, boasts two separate compounds on site.

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Platinum Data Announces Additions to Board of Directors

Two new board members have been appointed at Platinum Data, and the valuation technology provider is preparing to welcome seasoned executives Hunter Atkins and John LaMacchia to the company's directorship. In an official statement, Platinum noted that the company hopes to capitalize on their leadership "during the next phase of its growth and expansion."

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CoreLogic Rolls Out New Data Initiative for RMBS Analysis

CoreLogic has launched a new provision for clients using the company's private-label residential mortgage-backed securities dataset. California-based CoreLogic recently announced the incorporation of anonymized servicer stop advance data, which will be available free of charge for the company's existing and new RMBS-data customers. The trustee-submitted data from CoreLogic will be at the loan-level, as opposed to aggregated. CoreLogic's stop advance data will include history dating back to January 2009.

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Credit Expected to Improve Despite Tight Underwriting

The Office of the Comptroller of the Currency released the findings of its 18th annual Survey of Credit Underwriting Practices, showing that credit writing standards were mostly unchanged from the year before. The survey, which included federal savings associations for the first time, examined the underwriting standards of 87 banks with assets of $3 billion or more in the 12-month period ending February 29. Underwriting standards largely remained the same despite some easing in standards for retail and commercial products.

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Construction Starts Show ‘Slight’ Improvement

Home construction starts are on the rise in 2012, and updates to a recent survey from the McGraw-Hill Companies indicate a forecasted increase of 2 percent for the year. According to projections from the 2012 Dodge Construction Outlook Midyear Update, total construction starts will hit $445 billion, besting the $434 billion recorded during 2011. Compiled by McGraw-Hill Construction, the outlook report calls the predicted performance "slightly better than" flat in a still-recovering economy dogged by recurring problems.

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Mortgagebot Survey Reveals Advantages for Community Lenders

A new survey from Mortgagebot includes promising findings for community-based lenders hoping to increase their market share. The technology company's recent report shows that upticks in visibility and accessibility via online channels can help level the playing field for smaller lenders competing with the nation's big banks. Mortgagebot's study revealed specific strategies that are enabling the company's clients to capitalize on market share including generating better borrower-facing accessibility online, targeting new customers through an online approach that is tailored to a particular demographic.

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