Private mortgage insurers wrote just 2% more new business on a year-over-year basis in the second quarter, but market share shifts widened the spread between the six underwriters. The industry-wide market share gap was 1.7 percentage points for both the second quarter 2024 and first quarter of 2025, according to data from Keefe, Bruyette & […]
Private MI market share gaps widen in Q2 Read More »
Cypress Loan Servicing received an assurance of discontinuance from Massachusetts Superior Court in Suffolk County after agreeing to pay $2 million to settle legacy allegations. The payment by the company, which previously operated as Rushmore Loan Management Services, will go toward a state penalty and borrower restitution. The court agreement calls for business practice change
Cypress Loan Servicing settles with Mass. AG for $2 million Read More »
The national property tax delinquency rate accelerated last year, with data indicating potential emerging financial strain among some segments of mortgage borrowers. The share of property tax delinquencies across the U.S. increased to 5.1% in 2024, rising from 4.5% one year earlier, according to a new report from real estate data provider Cotality. The research
More homeowners struggle to keep up with property taxes Read More »
Cypress Loan Servicing has reached a $2 million settlement with the Massachusetts Attorney General’s Office (AGO) over allegations that it violated state foreclosure prevention and consumer protection laws. According to the AGO, Cypress — formerly known as Rushmore Loan Management Services — allegedly put homeowners at unlawful and unnecessary risk of foreclosure by violating Section
Cypress Loan Servicing settles foreclosure case for $2M Read More »
UWM Holdings CEO Mat Ishbia’s new target for mortgage broker originations share is for them to do over half of production. On the company’s earnings call, he cited statistics giving the current broker share at 30%. “Our goal is for brokers to be No. 1,” Ishbia said. “In my mind, that means 50.1%; I don’t
UWM aims for broker-majority market amid 300% profit surge Read More »
The Mortgage Bankers Association announced Wednesday that its Residential Board of Governors has passed a resolution calling for two influential government-sponsored enterprises to end their requirements for tri-merged credit reports. The move follows FHFA’s decision to allow score competition without changing tri-merge rules, and MBA’s earlier plan to explore the viability of using a single
MBA urges GSEs to end costly tri-merge credit reports Read More »
Some loosening in mortgage underwriting contributed to the 8-basis-point quarter-to-quarter increase in the Milliman Mortgage Default Index. This measurement is an estimate of the lifetime serious delinquency rate, which Milliman defines as loans for which the borrower is 180 or more days late on their payments. It looks at loans acquired by the government-sponsored enterprises
Looser underwriting boosts serious default risk in 1Q25 Read More »
Ginnie Mae, a government corporation with the Department of Housing and Urban Development that protects funding for many U.S. mortgage loans, finally has a nominee for its long-vacant post of president. The Senate received the nomination of Joseph Gormley as Ginnie Mae president over the weekend and referred it to the Committee on Banking, Housing
Ginnie Mae executive Joe Gormley nominated as president Read More »
Homeowners already stretched by high mortgage payments may be strained even more by another escalating expense: homeowner’s insurance. The average premium for a new policy has climbed to $1,966 in 2025, a 9.3% jump from last year and more than 61% higher than five years ago, according to online insurance agency Matic. At the same
Homeowners paying more for less insurance Read More »
Lawmakers from two wildfire-stricken states put forth a new Senate bill that would mandate mortgage relief for homeowners in the aftermath of natural disasters. Sens. Adam Schiff, D-Calif. and Michael Bennet, D-Colo. introduced the Mortgage Relief for Disaster Survivors Act this week aimed at alleviating homeowners’ financial hardship after an extreme weather event. The bill
Senators propose natural-disaster mortgage relief bill Read More »