The volume of broker-originated FHA and VA refinance loans pooled in new Ginnie MBS jumped 94.1% from the first to the second quarter. Correspondent production saw the smallest gains among the three channels.
The financial conditions of Ginnie Mae’s largest nonbank issuers appear to be healthy and the firms ready for any potential economic downturn, the secondary mortgage market agency said.
FHA is seeking feedback on proposed changes to loan-level and annual lender certifications and the defect taxonomy to clarify lender liability under the False Claims Act.
Following seasonal patterns, the number of FHA and VA loans in early stages of delinquency fell sharply from the fourth quarter of 2018 to early 2019. Nonbanks continued to expand their footprint, accounting for 62.2% of outstanding Ginnie single-family servicing.