The share of residential mortgages in forbearance decreased for the ninth straight week to 4.47%. Overall, 2.23 million homeowners remain in forbearance, according to the Mortgage Bankers Association.
The New Jersey-based company will help modernize Ginnie Mae’s platform to provide enhanced security, monitoring and service delivery across its entire application portfolio.
A small percentage of customers who will be unable to resume mortgage payments after forbearance will be those who were already delinquent pre-pandemic.
Freedom Mortgage and PennyMac remained the top Ginnie MBS issuers in November, though their monthly production was down slightly. Quicken and Lakeview gained ground. (Includes two data charts.)
The VA continued to expand its role in the Ginnie MBS market in October. Overall, a small increase in purchase-mortgage business offset a tiny slip in refi volume. (Includes two data charts.)
Nonbanks continued to broaden their footprint in the Ginnie market even though top players like Quicken, United Shore, Mr. Cooper and AmeriHome recorded declining sales in the third quarter. (Includes four data charts.)
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