Fannie and Freddie will institute their own models for assessing the values of MSRs held by seller/servicers, even if those MSRs are for mortgages not owned or guaranteed by the GSEs.

Attorneys for First Guaranty Mortgage Corp. and its creditors met in a U.S. Bankruptcy Court in Delaware this week. The first step in the resolution: selling some of the company’s MSRs.

The delinquency rate for FHA single-family loans pooled in Ginnie Mae mortgage-backed securities increased to 7.29% at the end of September, driven by loans in the 30 to 60 days bucket. (Includes four data charts.)

Implementation of Ginnie’s risk-based capital requirements delayed; Fitch downgrades ratings of Finance of America, Provident; foreclosure starts decline; new alerts in Freddie’s Loan Advisor dashboard; MISMO seeks comments on three proposals; Staircase offers MSR transfer automation; LoanCare launches HELOC servicing; new LO recruitment tool.

Industry analysts continue to assess Ginnie Mae’s new nonbank issuer eligibility requirements and what impact they might have on the mortgage market.

Ginnie Mae believes the year-plus implementation period should give potentially affected issuers enough time to plan and execute strategies for coming into compliance its new risk-based capital requirements.

The guidance is aimed at helping issuers understand how the new risk-based capital ratio requirements apply to mortgage servicing rights, among other issues.

Mortgage servicers discussed forbearance, customer service and other issues at a virtual Housing Finance Strategies conference.

Ginnie Mae could take additional actions on new eligibility requirements if problems emerge in the MSR market.

Among the FAQs: Why isn't short-term unsecured debt eligible?