Ginnie Servicing Volume and FHA Delinquencies Fall
November 27, 2013
Ginnie Mae home mortgage debt outstanding fell by a whisper in the third quarter of 2013 while FHA servicers reported a slight drop in overall delinquencies and an uptick in the foreclosure rate, according to Inside FHA Lendings analysis of government-backed servicing data. As of Sept. 30, Ginnie Maes single-family servicing was down 0.2 percent from the previous quarter but was up 4.1 percent from the same period last year. Ginnie servicers ended the third quarter with $1.35 trillion in servicing outstanding. Although banks continued to dominate Ginnie servicing, the agency has been concerned with the ... [2 charts]