On Friday, Black Knight Financial released its forbearance tally, saying cases declined by 11,000 units for the seven-day period, ending October 20. Roughly, three million mortgagors remain in active COVID-related relief programs, the analytics firm noted.
Between July and September, the bureau entered into consent orders with eight VA lenders over deceptive marketing practices. Overall, the CFPB assessed $2.8 million in civil penalties but provided no restitution to harmed consumers.
Commenting on the stubbornly high Ginnie measurement, MBA's Fratantoni noted it shows that recovery is not uniform “and that many are still struggling to gain their footing.”
It was the highest three-month production reading in the program’s history, continuing a run in which the past five quarters represented the five highest Ginnie totals ever.
While the supply of VA loans in Ginnie MBS continued to grow during the third quarter, the volume of securitized FHA forward mortgages fell 2.7% from the end of June.