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.)
VA refinance activity drove much of the increase from the first to the second quarter, and the veterans' program accounted for over half of Ginnie MBS issuance during the period. (Includes four data charts.)
Ginnie MBS issuance in May was off just a whisker from April’s record, but the full impact of the recession on housing sales is yet to come. (Includes two data charts.)
HUD sought no changes in its funding request for FHA and Ginnie but has called for legislative reforms, and will seek them through the authorization, rather than the appropriations, process.
HUD inspector general was unable to sign off on HUD’s and Ginnie Mae’s 2019 financial statements due to a lack of evidence that past accounting weaknesses and issues have been satisfactorily resolved.
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