Mortgage Insurers Active in HAMP, HARP Programs

by devteam March 8th, 2013 | Share

The three major private mortgagerninsurers participated in the modification of 5,791 mortgages through the HomernAffordable Modification Program (HAMP) in the fourth quarter of 2012 and 6,779rnloans through other modification programs. rnMortgage Insurance Companies of America, the trade association for thernindustry, said that the HAMP modifications had a volume of $1.1 billion and thernother modifications $1.3 billion.  The 4th</supquarter volume represented a slight decrease – about 400 loans in each categoryrn- from the third quarter but was an increase of 75 percent over activity in thernfourth quarter of 2011.</p

The company also participated in 45,794</bmortgage refinancings in the fourth quarter, $8.8 billion in volume, compared torn46,440 loans and $9.1 billion in volume in the third quarter.  The refinancings were done through the HomernAffordable Refinance Program (HARP) and other refinancing programs.</p

Since the programs were initiated in 2009,rnMICA member companies report that the total volume of mortgages that carryrnprivate mortgage insurance on HARP, HAMP or other modified loans reached morernthan $98 billion, to benefit more than 555,505 households nationwide.  </p

The three companies submitting data for thernMICA report are: Genworth Mortgage Insurance Corporation, Mortgage GuarantyrnInsurance Corporation, and Radian Guaranty Inc. </p

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About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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