Fannie, Freddie and Ginnie securitized $345.72 billion of loans with some form of primary MI during the third quarter, an 8.3% drop from the previous period.
In the mortgage industry, the FCA has been used by the Department of Justice and Department of Housing and Urban Development to punish FHA lenders for sloppy underwriting practices that led to defaults.
The number of Ginnie loans one-payment past due jumped 17.3% from March to June, pushing the delinquency rate for the category to 2.06%. That compared favorably to a 3.60% 30-day delinquency rate two years ago.