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%.
The number of loans in Ginnie MBS that had COVID forbearance fell 6% from July to August, although a growing share of the loans fell into the seriously delinquent category. (Includes two data charts.)
The outlook for HECM lending remains positive as rates remain low and seniors move to tap home equity during these troubled economic times. (Includes data chart.)
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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