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Private Mortgage Insurer (PMI) market trends and highlights, 3Q 2021
20 December 2021
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The Private Mortgage Insurer (PMI) landscape has grown more competitive in recent years; “Black-box” risk-based pricing engines – largely adopted industry-wide in late-2018/early-2019 – have made pricing and business mix differences amongst the 6 MIs more opaque than ever. Over this time Milliman has been tracking the PMIs’ New Insurance Written (NIW) and Insurance In Force (IIF) performance to keep our finger on the pulse of the market. The linked publication provides information and context regarding trends and differences amongst the PMIs’ businesses for 3Q 2021.
The full 3Q 2021 report provides 20+ pages of figures and commentary covering:
- Summary of NIW
- Calculated average FICOs, LTVs, and other metrics of quarterly NIW back to 2018
- Summary of IIF
- Volume/persistency
- Performance
- Summary of capital markets ILN issuances
- New issuance
- Appendix: Additional excerpts from earnings calls
The data used to compile this report includes publicly available PMIs’ disclosures (Earnings Releases, Financial Supplements, and 10-K/Qs) as well as additional aggregated industry data extracted from Milliman’s M-PIRe platform.
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