Ginnie posted a 1.3% quarterly gain in servicing outstanding to $2.726 trillion at the end of March, not including servicing of home-equity conversion mortgages.

The refi share of Ginnie issuance increased to 43.9% in the first quarter of 2026, the highest since the second quarter of 2021.

Agency MBS issuance declined on a quarterly basis in the first quarter of 2026 while non-agency MBS issuance hit the highest level since the financial meltdown of 2007.

The recent rise in FHA delinquencies appears to be an artificial effect caused by the new trial payment plans borrowers must complete before loans can be modified, according to research by the Center for Responsible Lending.

Purchase-mortgage volume in agency MBS issued in the first quarter of 2026 was essentially flat compared with the first quarter of 2025.

Endorsements of FHA home equity conversion mortgages rose 3.2% on an annual basis to $14.17 billion in 2025.

The correspondent channel accounted for 38.0% of government-insured originations in 2025, up from a 34.5% share in 2024.

Home prices increased by 0.1% on a monthly basis in January, according to the Federal Housing Finance Agency.

The Mortgage Bankers Association urged VA to adopt lender-generated documentation and bulk invoicing because loan-specific invoices are often not available.

Patrick Zondervan, executive director of the VA Loan Guaranty Service, said the agency was “absolutely willing” to examine its appraiser requirements.