Legal Seminar, Chicago, IL

MORTGAGE INSURANCE ACTIVITY AGENCY ISSUANCE

MI Activity

Mortgage insurance activity via the FHA, VA and private insurers declined from $152 billion in Q1 2018 to $134 billion in Q1 2019, an 11.7 percent drop. In the first quarter of 2019, private mortgage insurance written decreased by $9.69 billion, FHA decreased by $4.98 billion and VA decreased by $2.62 billion from the previous quarter, reflecting seasonality. During this period, the VA share grew from 22.8 to 23.8 percent, while the privatemortgage insurers share fell from 45.8 to 44.5 percent and the FHA share remained constant compared to the previous quarter.

Total private primary MI

FHA

VA

Total

($ billions)

200

150

$134

100

$60 $43 $32

50

0

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

3Q15

4Q15

1Q16

2Q16

3Q16

1Q17

2Q17

3Q17

4Q17

1Q18

2Q18

3Q18

4Q18

1Q19

4Q16

Sources : Inside Mortgage Finance and Urban Institute. Last updated May 2019.

MI Market Share

Total private primary MI

FHA VA

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 Q1

Sources: Inside Mortgage Finance and Urban Institute. Last updated May 2019.

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