Skip to main content

National MI in New Pact With CalHFA

Phil Hall
Jul 15, 2019
National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings Inc., has announced that lenders using Tavant VELOX’s FinConnect integration platform for the financial services industry can now access Rate GPS

National Mortgage Insurance Corp. (National MI), a subsidiary of NMI Holdings Inc., has received approval to provide private mortgage insurance on conventional mortgage loans backed by the California Housing Finance Agency (CalHFA), effective Sept. 5.
 
CalHFA works with approved mortgage lenders to offer low interest rate loans to low- to moderate-income homebuyers in California, while its single-family division provides first mortgage loans and down payment assistance to first-time homebuyers who meet specific requirements. Last year, CalHFA helped more than 11,000 low- and moderate-income residents buy their first homes, the highest one-year volume in its 44-year history.
 
“National MI is thrilled to begin working with CalHFA and its approved lenders in our home state of California, especially at a time when affordability has become such a challenge for would-be homebuyers in California,” said Mike Dirrane, chief sales officer and senior managing director with Emeryville, Calif.-based National MI. “Our approval with CalHFA also furthers our mission of expanding homeownership opportunities to deserving borrowers.”
 
Dirrane, who is also the chairman of MassHousing, a Boston-based affordable housing agency for the state of Massachusetts, added, “I know the great benefits that state agencies like CalHFA offer low-to moderate-income first-time homebuyers.”

 
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021
Mortgage Lenders Expect Profit Margins To Shrink

69% of lenders believe profit margins will decrease in the months ahead, while 19% believe profits will remain the same, and 11% believe profits will increase.

Industry News
Jun 14, 2021
Real Estate Industry Calls To End Eviction Moratorium On June 30, 2021

Expanding the moratorium will only increase levels of debt on renter households and impede the recovery of the housing sector.

Industry News
Jun 14, 2021