Servicers of Ginnie product are buying delinquent FHA and VA loans out of MBS pools and now the mortgages are showing up in a different forbearance category.
Most top Ginnie MBS issuers posted big gains in July, but the government-insured market has generally lost market share to conventional-conforming lending. (Includes two data charts.)
After that date, Ginnie MBS issuers will no longer be able to enter the agency’s legacy systems — GMEP and GinnieNET — directly through their web addresses.
Roughly 10% of loans backing Ginnie Mae MBS at the end of May were in forbearance because of the COVID-19 pandemic, but over a quarter of them were still current. (Includes data chart.)
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