The U.S. Mortgage Insurers said FHA’s Mutual Mortgage Insurance Fund is overdue for reforms, with the 2% capital ratio requirement not sufficient to meet the standards the GSEs and private insurers must satisfy.

Some 4.3% of FHA loans and 7.5% of VA loans are underwater, according to Intercontinental Exchange’s November mortgage report.

Issuers produced $47.87 billion of new Ginnie Mae single-family MBS in October, the highest monthly volume so far this year. Refis accounted for 31.9% of the new issuance. (Includes two data tables.)

The Bank of Glen Burnie, a Maryland-based lender, expects to substantially grow its residential mortgage business through its recent acquisition of brokerage VA Wholesale Mortgage.

Alerting delinquent borrowers of their home equity might lead some to sell for a profit, avoiding the costs and disruptions incurred by foreclosure, according to industry analysts.

Trends split during the third quarter in terms of GSE business involving private mortgage insurance. Purchase-mortgage volume increased and refis declined. (Includes three data tables.)

The trade groups want the Supreme Court to intervene and correct a lower court’s ruling that creates uncertainty regarding Fair Housing Act liability in the mortgage industry.

The delinquency rate on loans in Ginnie Mae MBS increased at a much faster pace than that on loans in GSE MBS, with the total delinquency rate for FHA mortgages hitting 10.90% at the end of September.

Homebuilder D.R. Horton and its lending subsidiary DHI Mortgage are accused of using deceptive loan pricing and marketing practices.

FHA is supporting some manual endorsement actions that lenders cannot process themselves.