Higher home prices allowed the enterprise to shift from a $395 million provision for credit losses in the first quarter to a $537 million benefit in the second.
Ginnie Mae's single-family outstanding was up 2.2% in the second quarter while the GSEs posted a 0.3% increase in servicing compared with the end of March..
Ted Tozer, Urban Institute non-resident fellow, argues that policymakers should update the FHA Modernization Act so lenders are no longer banned from providing downpayment assistance to FHA borrowers.