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MIAC

Private Mortgage Insurers' Cures Outpace Defaults

By Carrie Bay | 05/18/2011

Mortgage Insurance Companies of America (MICA) says loan cures reported by its member companies outpaced new defaults by 44 percent during the month of March. The group of private mortgage insurers recorded 56,934 loan cures for the month versus 39,557 defaults. MICA members help loan originators and investors make funds available for low down payment mortgages by protecting these financiers from a portion of the financial risk of default.
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MIAC Closes Sales of GSE Servicing Portfolios

By Carrie Bay | 12/09/2010

Mortgage Industry Advisory Corporation (MIAC) just announced that it closed the sale of two Freddie Mac bulk mortgage servicing portfolios in November with a combined unpaid principal balance of approximately $2.5 billion. The portfolios carried delinquency rates of 1.28 percent and 3.87 percent. The New York-based brokerage says it will be marketing a $70 million Fannie Mae mortgage servicing deal later this month.
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