The amount of Ginnie Mae servicing outstanding increased by 1.9% in the fourth quarter. On an annual basis, servicing volume was up 8.2%. Defaults on loans in Ginnie MBS are also rising, particularly for FHA loans. (Includes four data tables.)

Lakeview Loan Servicing has been the most active buyer of Ginnie Mae servicing rights since the beginning of 2022, dominating both the bulk and coissuance markets. (Includes two data tables.)

The Ginnie Mae mortgage servicing market saw a modest growth from the second to the third quarter. Overall, the performance of loans in Ginnie MBS deteriorated but the pace of serious delinquencies declined in both FHA and VA programs. (Includes four data tables.)

The court ruled that charging pay-to-pay fees from borrowers who made monthly mortgage payments over the phone violated the Texas Debt Collection Act.

Loan removals from Ginnie MBS increased in the second quarter of 2023. Removals are largely tied to loan payoffs, though there are some variations among servicers. (Includes data chart.)

Delinquencies on Ginnie Mae mortgage-backed securities increased during the second quarter of 2023, erasing most of the improvement seen in the previous quarter.

The proposed program could be improved by simplifying communications with borrowers and making changes that expand the number of borrowers who can be helped, industry and consumer groups said.

Lenders have new obligations to the FHA when they default on making home equity conversion mortgage disbursements, according to a policy finalized this week.

USDA deputy secretary confirmed; HUD seeks comments on burdens facing FHA lenders in maintaining eligibility; Ginnie Mae expands LMI disclosure initiative; and more.

Under FHA’s proposal, participating servicers would receive $1,000 in compensation, but the Urban Institute said that personnel costs would often be higher than that.