FHA and VA delinquencies among Ginnie servicers continued to drop from their pandemic peaks during the first quarter of 2022. Three of the top five servicers increased their government-insured servicing portfolio. (Includes four data charts.)
Mortgage industry stakeholders want FHA to re-examine proposed updates to the servicing defects taxonomy. They want the taxonomy to include concrete examples of the types of errors that rise to the level of defect.
Ginnie servicing outstanding increased by 0.2% in 2021, led by VA mortgages. Loan performance continued to improve during the fourth quarter. (Includes four data charts.)
The Consumer Financial Protection Bureau and the Department of Justice last month warned they will monitor VA loan servicers for signs of illegal foreclosures.
FHA must address its servicers’ inadequate implementation of COVID-19-related mortgage payment relief, a multistate coalition told the agency late last month.
Freedom Mortgage grew its Ginnie servicing portfolio significantly by acquiring MSR in bulk and coissuance transactions during the third quarter. Despite a spike in short-term delinquencies, overall loan performance improved. (Includes four data charts.)
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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