“We expect unemployment to rise modestly next year, which will likely lead to an equivalent rise in borrower defaults,” saidChris Grimes, a Senior Director at Fitch Ratings. “However, strong borrower credit characteristics and favorable home equity build-up for the majority of homeowners should moderate the frequency and severity of ultimate mortgage insurance claims.”
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Trade Groups Urge Congress to Extend NFIP and Protect Housing Market
In a letter to Mike Johnson, Speaker of the United States House of Representatives, 11 housing organizations have issued a letter to Congress to extend the authority of the NFIP by ensuring other vital housing programs do not lapse on November 17.
Read More »Predicting the Future of the Hispanic Housing Market
Hispanic homeownership has steadily grown for seven consecutive years, and it is predicted that Hispanic households will account for 70% of homeownership growth over the next 20 years. But amidst a tight housing market, potential Hispanic homebuyers —especially first-time buyers— ...
Read More »U.S. Mortgage Insurers Names New Chairman
MGIC Investment Corporation CEO Patrick Sinks has been named the chairman of U.S. Mortgage Insurers (USMI), marking a new chapter for USMI since it was formed in March 2014.
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