The amount of servicing outstanding in Ginnie MBS increased by 1.6% during the first quarter. Lakeview/Bayview Loan Servicing increased its market share thanks to large purchases of MSRs.
Large bank correspondent aggregators of FHA mortgages looked to firm guidelines on credit scores and LTV ratios while Fed researchers found that smaller nonbank lenders were willing to go down in credit and loan performance didn’t suffer.
Loan removals from Ginnie MBS increased in the second quarter of 2023. Removals are largely tied to loan payoffs, though there are some variations among servicers. (Includes data chart.)