Servicers of Ginnie product are buying delinquent FHA and VA loans out of MBS pools and now the mortgages are showing up in a different forbearance category.

FHA/VA lending giant Freedom Mortgage acquired servicer RoundPoint Mortgage of Charlotte, NC. Both firms are privately held.

The proposal aims to ensure governmental entities that participate in downpayment assistance programs do not benefit financially.

Servicers who fail to meet processing timeframes have to forfeit interest for the entire time it takes to resolve a loan in default.

The current method for calculating monthly student-loan payments results in artificially inflated debt-to-income ratios.

The extension applies to loans that were current or less than 30 days past due as of March 1 and go into default before Nov. 30.

Beginning Sept. 1, FHA lenders can submit appraisal reports and updates for FHA Single-Family Title II forward mortgages on the platform.

Rocket Companies, which controls Quicken, one of the largest FHA and VA funders, posted stellar earnings for 2Q20. The figure, however, is preliminary.

Thanks to strong cash prices paid by FHA/VA aggregators, fewer mortgage firms are seeking their Ginnie “eagles.”

After that date, Ginnie MBS issuers will no longer be able to enter the agency’s legacy systems — GMEP and GinnieNET — directly through their web addresses.