Some $54.47 billion of FHA purchase mortgages were included in Ginnie Mae mortgage-backed securities issued in the second quarter, up 28.9% from the previous quarter.

The MBA wants the GSEs to move away from a tri-merge credit score process but the trade group is still looking for an alternative option.

The top five markets with a “very high risk” of home price declines are all in Florida, according to Cotality.

Mortgage portfolios at Fannie Mae and Freddie Mac increased steadily throughout 2024 before declining during the first quarter of 2025.

Industry reaction was swift — and confused.

"The work on this has picked up significantly in recent weeks," according to Bob Broeksmit, president and CEO of the MBA.

Higher provisions for losses in the second quarter contributed to a 14.6% sequential drop in net income for the mortgage giant.

Lower head counts at the mortgage giant reduced administrative expenses by $145 million in the second quarter, though profits were still down 9% sequentially.

Much of the downturn was in pools with high concentrations of loans that accomplish GSE missions and other social goals.

Loans one payment past due increased 19 basis points during the second quarter, after declining during the first quarter.