Tag Archives: Mortgage Insurance

The GAO revealed it considers the agency to be a "high risk" program "due to [its] greater vulnerability to fraud, waste, abuse and mismanagement or the need for transformation."

Federal Housing Administration (FHA) Commissioner Carol Galante sat in front of the House Financial Services Committee for the second time to field questions and criticisms about the agency's practices and market share. It was established during the hearing that FHA insures 56.4 percent of mortgage loans today, though Galante was quick to assert in her testimony that FHA's "market share has been declining steadily since its peak in 2009." The commissioner also maintained the agency has no immediate need for a bailout.

A federal judge turned down Wells Fargo's claim that a federal lawsuit against the bank violates the terms of the national mortgage settlement.

The House Financial Services Committee assembled to hear from experts on the the Federal Housing Administration's (FHA) current financial situation.

Private mortgage insurance activity saw a slight lift in December, according to Mortgage Insurance Companies of America's (MICA) monthly statistical report. Member companies wrote a combined $10.7 billion in primary new insurance on conventional loans in December, up from a reported $10.4 billion in November. Primary insurance in force was nearly $400.7 billion at the end of the year, with December marking the seventh consecutive month of increases.

Federal Housing Administration commissioner Carol Galante announced Wednesday a series of changes to be issued this week that will allow the agency to better manage risk and strengthen its anemic Mutual Mortgage Insurance (MMI) Fund. The announced changes include consolidating FHA's reverse mortgage program, raising of mortgage insurance premiums, and requiring borrowers to continue paying annual insurance premiums for the entire life of their mortgage loans.

After climbing into positive territory for the first time in two years, Freddie Mac's total mortgage portfolio decreased sharply in December.

Fannie Mae and Freddie Mac approved National Mortgage Insurance Corporation as an eligible mortgage insurer.

National Mortgage Insurance Corporation (National MI) is now approved to write mortgage insurance in 22 states, having recently gained approval in the key state of New York.

Private mortgage insurance activity dipped in November, according to the most recent data from Mortgage Insurance Companies of America (MICA).