PMI Asia, an affiliate of The PMI Group, Walnut Creek, Calif., has announced, in conjunction with Hong Kong Mortgage Corp., the introduction of a new 95% loan-to-value mortgage insurance product to Hong Kong lenders.The product is an expansion of PMI Asia's 90% LTV mortgage guaranty reinsurance coverage. The company said the new product will enable Hong Kong lenders to be more competitive and improve borrower affordability. Five years ago, PMI Asia became the first U.S. mortgage insurer to do business in Hong Kong, according to the company.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18