Most of the increase in FHA/VA delinquencies came in early-stage defaults as the share of loans over 90 days late declined. The Ginnie servicing market grew 1.4% in the second quarter.
Correspondent production remained the biggest source of FHA and VA loans, but the rapid growth at United Wholesale Mortgage is reshaping channel dynamics.
The wholesale-funded broker is slowly penetrating more deeply in government lending, according to a new Inside FHA/VA Lending analysis. [Includes one data chart.]
FHA delinquency rates fell 26.4 basis points between December and January and were down 14.1 bps over an eight-month period ending January, according to the Inside FHA/VA Lending database. [Includes one data chart.]
Ginnie Mae saw a modest increase in issuance of single-family mortgage-backed securities in January, according to an Inside FHA/VA Lending analysis of MBS disclosures. [Includes one data chart.]
Home Equity Conversion Mortgage originations declined in December-January due in part to the recent government shutdown and an overall slowdown in HECM activity, according to an analysis by Situs, Inc.
Government-backed originations fell significantly in the fourth quarter of 2018 due to a decline in purchase lending even as year-over-year results reflected the uncertainty in last year’s government-backed mortgage market. [Includes three data charts.]
Conventional and VA-backed home mortgages are the most common type of mortgage products that servicemembers complained about to the Consumer Financial Protection Bureau, according to the agency’s latest analysis.
The FHA/VA market continued to lean more heavily on third-party loan producers in 2018, according to a new Inside FHA/VA Lending analysis of Ginnie Mae mortgage-backed securities data. [Includes four data charts.]