Delinquent loans accounted for 7.37% of FHA mortgages in Ginnie MBS at the end of September, up from 6.98% at midyear. The total delinquency rate for VA loans rose from 3.52% to 3.73% over that period. (Includes four data charts.)
The combined delinquency rate of the entire FHA portfolio rose by 94.8 basis points in the second quarter, returning to normal levels following a dip in 1Q19. The increase was fueled by short-term late payments.
Delinquency rates for FHA and VA loans in Ginnie Mae mortgage-backed securities rose in the fourth quarter of 2018, but loan performance was generally stronger, according to a new Inside FHA/VA Lending analysis. [Includes four data charts.]