Refi guarantees in the Department of Veterans Affairs’ home loan program more than doubled during the fourth quarter.

Gormley said Ginnie Mae is working with the Mortgage Bankers Association and the Housing Policy Council on the effort.

Private MIs and the two major government programs provided primary coverage on $74.80 billion of refinance loans, more than double the volume in the third quarter.

Issuance of Ginnie Mae mortgage-backed securities increased by 3.5% on a monthly basis in January.

VA is set to brief members of Congress on the new program and then head toward implementation.

The correspondent channel lost 194 basis points of market share in the agency MBS market in the fourth quarter of 2025.

The total FHA delinquency rate hit 11.86%, the third-highest reading in the past decade.

The total delinquency rate for FHA loans in Ginnie Mae mortgage-backed securities rose nearly 100 basis points from the end of September to the end of December, according to a recent Inside Mortgage Trends analysis.

GSE purchase-mortgage business with private MI declined at about half the rate of the decline seen in FHA purchase-mortgage business in the fourth quarter of 2025.

The funding bill passed by the house for HUD in fiscal year 2026 avoids drastic cuts sought by the Trump administration.