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Secondary Market

KBW lifts MGIC to Outperform, Delinquent Loan Inventory Drops 56 Percent in 3 Years

Insurer MGIC, which provides mortgage insurance through its principal subsidiary Mortgage Guaranty Insurance Corp., saw its stock rise 2 percent in morning trading after Keefe, Bruyette & Woods (KBW) analysts gave the company a vote of confidence in a new report. KBW raised MGIC to “outperform” from market perform on Monday.

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GSEs Issue Updates to Mortgage Repurchase Guidelines

The new policies, sent in a letter to sellers and servicers, are expected it go into effect January 1, 2016, at the direction of the Federal Housing Finance Agency (FHFA).

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IG Condemns FHFA’s Review of GSE Budgets

According to a recent report from the FHFA Office of the Inspector General, however, the Agency's budget review and approval process has fallen short of achieving that stated purpose due to a number of factors that include late timing, cursory-level analysis, and inadequate resources.

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Elizabeth Warren Leads Protest of Agency NPL Practices

Capitol Hill

Warren and Capuano are trying to prevent the delinquent mortgage loans from being acquired by investors who are quick to foreclose on them. The lawmakers would rather see the loans acquired by non-profits who would be more likely to engage in the loss mitigation process with borrowers and prevent foreclosure.

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