After falling below $100 billion in each of the previous two periods, Ginnie Mae issuance turned a corner in the second quarter. But volume is still far off the numbers for most of the past four years. (Includes four data charts.)
USDA deputy secretary confirmed; HUD seeks comments on burdens facing FHA lenders in maintaining eligibility; Ginnie Mae expands LMI disclosure initiative; and more.
The volume of Ginnie Mae mortgage-backed securities issued last month increased slightly from April, driven by a modest uptick in FHA activity. VA deliveries to Ginnie declined in May. (Includes two data charts.)
Issuance of Ginnie Mae MBS declined for the eighth straight quarter during the first three months of 2023. The deterioration was relatively uniform between FHA and VA volume. (Includes four data charts.)
The flow of new single-family mortgage-backed securities in Ginnie pools dribbled to just $22.66 billion last month. Through the first two months of the year, volume was down 53.9% from the same period in 2022.
Issuance of Ginnie Mae MBS declined again in January, though at a slower pace than the drop-off seen in the final months of 2022. PennyMac was the top issuer during the month. (Includes two data charts.)
Looser pooling requirements for delivering reperforming loans to Ginnie; FHA revises policy handbook; FHA updates instructions for use of GSE model forms; FHA hiring; VA revises various forms; VA offers loan review API; CHLA calls for permanent PTAP; RHS proposes loosening loss-mitigation standards.
PennyMac led all categories in Ginnie Mae issuance as the downward trend continued in the sector, which produced its most disappointing results in three years. (Includes five data charts.)
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