Ginnie Mae early this week expanded loan buyout authority to issuers to allow them to offer financial relief to borrowers affected by the recent hurricanes Ian and Fiona.
FHA/VA originations decreased in the second quarter though lending was up in the broker channel. PennyMac, the top government loan originator, saw declines across all three production channels. (Includes data chart.)
New FHA loan applications and endorsements have been declining steadily since hitting peaks in late 2020, and cash-out refinances make up a growing share of the market.