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Tag Archives: Mortgage Insurance

Arch MI, OpenClose Offer Individualized MI Rates in Seconds

Arch Mortgage Insurance Company and OpenClose announce Monday an integration aimed at providing “more competitive, sophisticated and dynamic MI pricing solution than conventional rate sheets,” according to Chris Hovey EVP and COO at Arch MI. Arch MI, the flagship private mortgage insurance provider of Greensboro, North Carolina-based Arch Capital Group, and West Palm Beach, Florida-based OpenClose, are collaborating to offer Arch MI RateStar pricing information within the OpenClose LenderAssist loan origination system.

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Updated: President Announces Reduction in FHA Premiums

falling-prices-profits

FHA raised premiums in response to its declining mortgage insurance fund, which forced the agency to take a $1.7 billion bailout in 2013. Since then, it has rebuilt its capital, spurring some commentators to call for a cut. In a statement, the White House estimated that the reduction will translate to a $900 increase in annual mortgage payments for first-time buyers, with existing homebuyers expected to see similar savings.

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FHFAOIG Audits GSEs’ Mortgage Insurers

The Federal Housing Finance Agency (FHFA) Office of the Inspector General (OIG) performed an audit on the financial conditions of mortgage insurers used for loans purchased by Fannie Mae and Freddie Mac to assess their exposure to risk. The FHFA, as the regulator for Fannie and Freddie, provides oversight of the GSEs and contracted CohnReznick LLP to perform the audit.

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Mortgage Insurance Delinquencies Decline in February

Short Sales

Radian Guaranty released data for primary mortgage insurance delinquencies for the month of February on Wednesday, reporting fewer loans are delinquent as of the end of the month. New insurance written for the month came in at $1.9 billion, with a beginning primary delinquent inventory of 58,782.

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