Many of the top Ginnie servicers saw declines in their portfolios during the third quarter. Freedom Mortgage stood out with a 13% gain from the prior period. (Includes four data charts.)
The volume of Ginnie single-family MBS outstanding peaked in June and retreated slightly in July and August. The slippage has been in FHA loans. (Includes two data charts.)
The number of loans in Ginnie MBS that had COVID forbearance fell 6% from July to August, although a growing share of the loans fell into the seriously delinquent category. (Includes two data charts.)
The outlook for HECM lending remains positive as rates remain low and seniors move to tap home equity during these troubled economic times. (Includes data chart.)
In a groundbreaking performance, the agency's five biggest months for MBS issuance have occurred over the past five months of 2020. Freedom continued to ride a swift current of refi activity. (Includes two data charts.)
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.
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