The correspondent channel captured 49.1% of originations in the first quarter, up from a 47.3% share in the previous quarter.

The existing partial claim option isn’t effective because interest rates are so much higher now than when most FHA borrowers signed their present mortgage, analysts at the Urban Institute noted.

Ginnie Mae MBS issuance increased by 3.3% on a monthly basis in May.

Ginnie President Alanna McCargo is confident nonbanks will be able to meet pending capital requirements.

Both purchase-mortgage originations and refis declined at FHA and VA in the first quarter.

The fear is that if delinquencies rise significantly, nonbanks will have a tough time making the required advances to investors in Ginnie MBS.

While correspondent sales of FHA/VA loans declined in 2022, Veterans United increased its sales volume.

The amount of Ginnie servicing volume outstanding increased by 1.6% in the first quarter while Lakeview's portfolio grew by 3.4%.

The Community Home Lenders of America wrote to the leaders of House and Senate housing appropriations committees.

Loans with MI represented 63.8% of total mortgage-backed securities issued by Fannie, Freddie and Ginnie in the first quarter.