Ginnie also announced new requirements for users of its systems...

For HUD, the central question boils down to this: Will the MMIF have enough cash on hand to weather what could turn out to be a delinquency tsunami on the FHA book of business?

Through the first seven months of 2020, Ginnie issued $400.14 billion of single-family MBS, excluding deals backed by FHA reverse mortgages.

PennyMac posted a record profit in the second quarter and went on a hiring spree to support its origination and servicing activities.

While the refinance market continued to go bonkers, agency securitization of purchase loans showed a bigger relative gain from June.

The lower readings might suggest a lack of interest in FHA/VA lending but that’s hardly the case given the continued strong production numbers…

According to the S-1 initial public offering documents filed with the SEC, Rocket’s total share count (public and private) is roughly 1.9858 billion shares. At $22 a unit (the upper end of the range) that works out to a cool $43.69 billion. In short: Wow.

Cowen analyst Jaret Seiberg: “Our expectation is that FHA borrowers will be the first to suffer if Congress fails to extend enhanced unemployment benefits"...

Wade takes the helm of the government’s mortgage insurer at a tumultuous time: FHA production is strong but the COVID-19-related forbearance rate on such loans are beginning to inch up as the employment picture worsens.