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mortgage insurance (MI)

Mortech Adds LPMI Products to Mortgage Pricing Engine


Mortech, a Zillow business providing mortgage technology software solutions for mortgage bankers and secondary market teams, has announced the release of new LPMI products and functionality to the suite of Consumer Financial Protection Bureau (CFPB) compliance tools built into Mortech’s Marksman product and pricing engine. Mortech released the compliance tools last November to allow loan originators to manage compliance upon intake, prior to the loan application entering the loan origination system, and has been adding functionality since then.Click to continue

Dinosaurs May Not Rule the Earth, but They Are Still Around

Dinosaur herd

Well sure, you don’t see any 50-ton Triceratopses rummaging through your garbage at night, but they are around. They just look different now. Sharks evolved about 350 million year ago and they are still terrorizing beach resorts, right? Alligators came on the scene about 200 million years ago. Take a stroll through the Florida Everglades slathered in chicken fat. My point is, you can still be a dinosaur in a mammalian world. You just have to learn to change a little.Click to continue

United Guaranty Makes Enhancements to its Mortgage Insurance


United Guaranty has announced the introduction of a new first lien mortgage insurance (MI) master policy that strengthens customer relationships with a first-in-the-industry Policy Commitment Letter—specific to each lender—that clearly defines each party’s roles and responsibilities, adding certainty and flexibility. United Guaranty’s master policy has been approved by Fannie Mae and Freddie Mac and has been filed in all 50 states and the District of Columbia.Click to continue

CFPB Targets PHH Mortgage for MI Kickback Scheme


The Consumer Financial Protection Bureau (CFPB) has initiated an administrative proceeding against PHH Corporation and its affiliates (PHH), alleging that PHH harmed consumers through a mortgage insurance (MI) kickback scheme that started as early as 1995. The CFPB is seeking a civil fine, a permanent injunction to prevent future violations, and victim restitution.Click to continue

Freedom Mortgage Expands MI Options for Borrowers


Freedom Mortgage Corporation has expanded its mortgage insurance options for borrowers. The company, which has relationships with the country’s private mortgage insurance providers, has increased its number of approved mortgage insurance providers in an effort to help more borrowers qualify for mortgages in the current purchase-driven market.Click to continue

National MI Receives Top Honors for Its Web Site


NMI Holdings Inc., the parent company of National Mortgage Insurance Corporation (National MI) hs announced that National MI has been named to the Web Marketing Association’s list of “Outstanding Websites” for its site, Since 1997, the WebAwards annual competition has set industry benchmarks for the best web sites around the world.Click to continue

Risk Reveal From Equifax Sheds Light on Potential Risk


Equifax has announced the availability of Risk Reveal, an automated technology that scans closed loans investors receive from their delegated correspondent lenders to reveal the ones that may pose potential risk. To better mitigate risk, ensure loan quality and drive profitability, investors need more transparency into the credit activity of borrowers during the underwriting process.Click to continue

Genworth Alters Underwriting Guidelines


Genworth U.S. Mortgage Insurance (USMI) has announced that it will reduce rates and expand its Simply Underwrite guidelines to eliminate nearly all overlays and ensure ease of use for customers that deliver loans using the automated underwriting systems (AUS) of the government-sponsored enterprises (GSEs). The credit policy changes, effective for mortgage insurance (MI) applications received on or after Sept.Click to continue

National MI to Insure Nearly $5 Billion in Residential Homes


National Mortgage Insurance Corporation (National MI) has announced that it has agreed to insure an amount approximating $5 billion in residential mortgages in its first risk transfer transaction with Fannie Mae, with an expected effective date in the third quarter of 2013. The transaction is contingent on National MI receiving regulatory approval of the pool policy of insurance by the District of Columbia Department of Insurance, Securities and Banking.Click to continue