Research Report Mortgage Insurance Data At A Glance - 2023
John Walsh, Katie Visalli, Daniel Pang, Jun Zhu, Laurie Goodman, Aniket Mehrotra
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During the past 66 years, the private mortgage insurance (PMI) industry has enabled homeownership for more than 38 million borrowers who lack sufficient funds for a 20 percent down payment on a conventional mortgage. This data publication quantifies the role of PMI in the agency mortgage market. It describes the borrowers served by PMI and how they compare with conventional borrowers without PMI as well as borrowers with government mortgage insurance (e.g., Federal Housing Administration, or FHA, and US Department of Veterans Affairs, or VA, borrowers) along key dimensions, such as loan-to-value (LTV) ratios, credit scores, and first-time homebuyer status. In addition to loan origination characteristics, this publication quantifies the performance of PMI-insured agency loans as measured by historical delinquency rates and loss severities, as well as the role of PMI in reducing losses to the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

This data publication is an update to the 2021 data publication Mortgage Insurance: Data at a Glance to provide an up-to-date snapshot of the mortgage insurance market.

Research Areas Housing Housing finance
Tags Housing finance data and tools Private insurance Housing markets
Policy Centers Housing Finance Policy Center
Research Methods Data analysis Quantitative data analysis
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