The volume of outstanding loans in Ginnie Mae mortgage-backed securities rose 1.6% to $2.181 trillion in the first three months of 2023 as delinquency rates improved across the board. (Includes four data charts.)
Mortgage-related complaints filed with the CFPB grew by 41.2% to 7,016 in the first quarter of 2023. Servicing-related complaints were the largest group, largely due to issues in the payment process. (Includes two data charts.)
FHA and VA originations in the fourth quarter of 2022 were the lowest since early 2019. The VA’s IRRRL program was practically wiped out, while HECMs were the least bleak corner of the market. (Includes three data charts.)
Agency securitizations of retail mortgages shrank by 36.7% in the fourth quarter as the share of refinances fell to 18.2%. Loan quality deteriorated slightly while average loan sizes continued to shrink. (Includes two data charts.)
Lakeview/Bayview Loan Servicing edged out Freedom Mortgage as the top servicer in the $2.1 trillion GNMA market. FHA delinquencies rose throughout the year, but the VA default rate remained subdued. (Includes four data charts.)