A growing share of VA and FHA loans had credit scores of 740 or higher in the first quarter, while the share of scores below 620 declined. (Includes four data charts.)
Delinquency rates for government-insured loans generally declined in the first quarter, but 30-day past-due rates were up for both FHA and VA, with a noticeable gain from February to March. (Includes four data charts.)
FHA loans are known as low FICO score products, and that's a problem in this new coronavirus world we live in. Warehouse lenders are lowering the boom.
Greystone to provide $25 million in HUD-insured construction financing for a multifamily project; the COVID-19 outbreak has spurred technological innovation at FHA; A new hire for Down Payment Resource.
The next big refinance wave in government lending may take a few months to fully hit the Ginnie Mae MBS market, but it's coming. (Includes four data charts.)
VA deliveries into Ginnie MBS increased a stunning 44.5% in 2019. The share of refis in total VA securitization saw a sharp increase too. (Includes data chart.)