Among the top 20 FHA/VA producers in 2Q25, not one was a federally insured depository.

The retail segment, with a market share of 42.7%, maintained a narrow lead ahead of correspondents in the second quarter.

Private MI covered 16.4% of new mortgage production in the second quarter.

The flow of refinances declined 21.5% on a monthly basis to $8.90 billion in July.

Key point: Although 30-day lates make up 2.1% of all mortgages, 38% of that is comprised of FHA mortgages.

Some $54.47 billion of FHA purchase mortgages were included in Ginnie Mae mortgage-backed securities issued in the second quarter, up 28.9% from the previous quarter.

“Gravity is being tested,” said Mark Garland, a managing director at SitusAMC.

"The work on this has picked up significantly in recent weeks," according to Bob Broeksmit, president and CEO of the MBA.

Lakeview, the largest servicer of FHA loans in Ginnie MBS, had 3.5% of these mortgages in the 90-plus-day category.

MBA's Megan Booth said the updated code would lead to fewer FHA- and USDA-backed properties.