MGIC & Radian earnings; Trends in Borrower Equity; CFPB, HMDA, & 44 lenders

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Posted To: Pipeline Press

Here’s a letter that, as a lender, you probably don’t want to receive from the CFPB. Remember that the CFPB runs HMDA now, and fired this shot across the bow to 44 lenders. “The letters say that recipients should review their practices to ensure they comply with all relevant laws. The companies are encouraged to respond to the Bureau to advise if they have taken, or will take, steps to ensure compliance with the law.” (I was unable to pull up the actual letter – must be my computer.) What have recent 3 rd quarter earnings announcements from those feisty private mortgage insurance companies told us about industry trends? MGIC Investment Corp. beat some estimates due to lower incurred losses driven by positive reserve development and higher net premiums earned. NIW (new insurance…(read more)

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