It’s no secret that early buyouts of delinquent FHA and VA loans are rising. Ginnie Mae, as might be expected, is keeping a close watch. (Includes data chart.)
Mike Fratantoni, MBA chief economist, said the job market data continue to indicate that homeowners are experiencing severe hardships due to the pandemic.
FHA Commissioner Dana Wade said this was the first time there have been no material weaknesses or significant deficiencies identified with its financial statements.
FHA delinquency rates went down 6 basis points to 15.59%, a Mortgage Bankers Association survey found. Though worth noting: FHA loans in the seriously delinquent category (90-days past due) reached a survey-high of 10.76%.
It will be the 11th issuance of its type by loanDepot.
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