PMI

Fannie Mae has started a pilot program that transfers 265 basis points of default risk on $3.7 billion of loans delivered over a six-month period to private mortgage insurers.

The mortgage industry remains deeply uneasy with efforts by Fannie Mae, Freddie Mac and their regulator to experiment with front-end credit risk transfers, with some arguing it helps borrowers and lenders, while others fear it will cut out small institutions.

MGIC Investment Corp. posted the biggest intraday gain in 11 weeks as third-quarter operating profit advanced on lower costs tied to soured home loans.

New American Funding and Alterra Home Loans have selected Radian Group as the preferred private mortgage insurance providers for their Your Path loan program.

As Fannie Mae and Freddie Mac continue to experiment with up-front risk sharing deals, some small mortgage lenders are worried they will be left out of the action.

United Guaranty Corp. has initiated a disaster policy after Hurricane Matthew tore across the Southeast this past week.

M&T Bank is offering mortgage subsidies through a new program to qualified consumers in New Jersey and nearby states.

Freddie Mac plans to say it will start a pilot program to increase the amount of risk it shares with private mortgage insurers.

Arch Capital Group has planned a secondary public offering to raise some of the cash for its $3.4 billion acquisition of United Guaranty Corp. from American International Group.

Affordability constraints and a lack of awareness about low-down-payment mortgage options are tempering confidence about buying a home, according to the National Association of Realtors.