An analyst for Zacks Equity Research, Chicago, says difficult times will continue for the private mortgage insurance industry until 2008.Neena Mishra said the current valuations on the publicly traded companies in the sector already price in to a great extent the bad news in the housing market and the companies' resulting higher losses. "Further, many of these companies have operations outside of the U.S.," Ms. Mishra said. "[Walnut Creek, Calif.-based] PMI Group, for example, derives 40% of its earnings from international operations and other diversified activities. However, we will continue to remain cautious on this segment till there is greater visibility on the U.S. mortgage default situation in the near to intermediate term." Zacks can be found online at http://www.zacks.com.
-
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
50m ago -
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.
1h ago -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
8h ago -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
9h ago -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
10h ago -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18