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Mortgage Insurance Special Report.(Brief Article)
For home buyers who cannot afford to make a 20% downpayment (and with prices rising fast, how many can?), private mortgage insurance is often the financial tool they need to become homeowners. And the product is especially important to home buyers with moderate incomes, according to the industry's trade group, the Mortgage Insurance Companies of America.
MICA says that homeownership is skewed toward those households with annual income in excess of $50,000. Among households with incomes in excess of $100,000, 91% own their home.
By contrast, the 63% of households with annual incomes below $50,000 had only a 57% homeownership rate. That's strong, but well below the two-thirds homeownership rate for the nation as a whole.
After a period of challenge in the 1980s, the MI companies emerged as strong participants in the mortgage industry during the ...
- Majority of MI Companies Saw Relative Gains in 1Q.(Mortgage Insurance )
- Magazine article from: Origination News Finkelstein, Brad June 1, 2005 700+ words
...publicly traded companies with private mortgage insurance as their primary strategy. However...net income increases in its U.S. mortgage insurance operations and financial guaranty...s net operating earning from its mortgage insurance business increased substantially...
- MI Companies Fared Well In Third Quarter Earnings.(MGIC Investment...
- Magazine article from: Origination News Finkelstein, Brad December 1, 2004 700+ words
...is underwriting mortgage insurance also reported an...for its U.S. mortgage insurance business went from...dark cloud for the MI companies, it is delinquencies...Guaranty and Republic Mortgage Insurance Co., are all subsidiaries...
- Radian branches out: a dramatic industry shift is under way in the mortgage...
- Magazine article from: Mortgage Banking Wallace, David J. August 1, 2004 700+ words
...intrigue and change in the private mortgage insurance (PMI, or MI for short) industry...such as combination loans that avoid mortgage insurance. Also, as interest rates rise in...ARMs). This is likely to boost mortgage insurance claims and defaults. So the amount...
- MI companies tackle OFHEO's risk-based capital rule.
- Newspaper article from: Asset Securitization Report Sibayan, Karen September 3, 2001 700+ words
...make up 60% to 70% of the mortgage insurance that the MI companies write. The regulation may...consolidation within the private mortgage insurance sector and bring back more...the only two triple-A MI companies, General Electric Mortgage...
- The MI technology race. (mortgage insurance companies) (Cover Story)
- Magazine article from: Mortgage Banking Schneider, Howard March 1, 1991 700+ words
...helping borrowers qualify, mortgage insurance (MI) companies try not to be "an intrusion...at San Francisco's PMI Mortgage Insurance Company. Providing insurance...insurers. On top of all that, MI companies try to find other services...
- Exploring new territory. (private mortgage insurance business)(Market Research...
- Magazine article from: Mortgage Banking Schneider, Howard August 1, 1995 700+ words
...available from mortgage insurance (MI) companies, says Cathleen...that demand for mortgage insurance has increased...these loans, are MI companies being too accommodating...these issues, mortgage insurance policies are being...
- A.M. Best Special Report: Credit, Housing Market Woes Slam Mortgage Insurance...
- Press release article from: Business Wire September 8, 2008 700+ words
...This was a sharp contrast to the record years of profitability earlier in the decade, during which most mortgage insurance (MI) companies added to their capital base, enabling them to better withstand the subsequent downturn in the housing...
- Mortgage Insurance Defaults are Outpacing Cures.(Brief Article)
- Magazine article from: Mortgage Servicing News October 1, 2002 700+ words
...outpacing cures on private mortgage insurance policies, according...month of July, the Mortgage Insurance Co.'s of America reported that MI companies saw 46,962 defaults...contributing to problems for mortgage insurance industry stocks...
- Six MI companies to refund $4 million in NY settlement.(Brief Article)
- Magazine article from: Origination News Finkelstein, Brad January 1, 2001 700+ words
...industry. New York's mortgage insurance cancellation law...pay the cost of mortgage insurance. In the settlement...statement from the MI companies that was part of...covers loans where mortgage insurance had been paid in...
- MI Companies Fared Well In Third Quarter Earnings.
- News wire article from: Mortgage Line Finkelstein, Brad January 21, 2005 700+ words
...is underwriting mortgage insurance also reported an...for its U.S. mortgage insurance business went from...dark cloud for the MI companies, it is delinquencies...Guaranty and Republic Mortgage Insurance Co., are all subsidiaries...
Source: HighBeam Research, Mortgage Insurance Special Report.(Brief Article)