Ginnie issuers securitized $15.61 billion of refis through the Department of Veterans Affairs home loan program in the third quarter, a 68.5% increase from the prior period.
FHA issued an extensive FAQ document late last week, addressing questions about guidance with an Oct. 31 implementation date for reconsiderations of value.
A rise in VA and FHA refinance business helped to increase Ginnie Mae mortgage-backed security issuance in the third quarter. The increase in purchase-mortgage volume was more modest. (Includes four data tables.)
Streamlining the adoption of new loss-mitigation programs ahead of deadlines can help servicers enhance their loan portfolios, according to a white paper from DLS Servicing Consultants.
Prior to the changes taking effect, VA issued a temporary variance to allow borrowers to pay buyer-broker charges so they can compete in the real estate market.