Essent Guaranty, a new start-up mortgage insurance company, has yet to write its first MI policy but it should be any week now, we're told. Essent is the brainchild of Mark Casale, who resigned as president of Radian Guaranty in October 2007. The new company is based in Radner, Pa. In other MI news, The PMI Group reported another huge quarterly loss ($228 million), this time for the period ending December 31. Its stock continues to trade for just over $2 a share...
Borrowers hold a total of $17.9 trillion in home equity in the United States, equal to $310,000 per homeowner, according to Cotality.
Given current rates are higher than the MBA and Fannie Mae forecasts, the industry could see further downside risk to the housing outlooks in October.
ICE dropped its post-Dec. 31 SDK access fee as migration lags. Audit plugins, get written confirmation from ICE, budget for dual-running and weigh API-native rivals.
The latest runup alarmed lenders but offered some new servicing opportunities unique to this market that can benefit both sides of the business.
The serial entrepreneur, who also created Rapid Reporting and American Transfer & Trust, plans to remain active in industry causes, a LinkedIn post said.
Almost 45% of buyers received a seller concession this summer, while more than 15% saw a reduction in the asking price to go along with it, according to Redfin.
