At yearend, consumers owed $11.168 trillion on their first liens, according to Inside Mortgage Finance, which means the dollar volume of residential loans under forbearance now totals $664.5 billion.

Mortgage bankers not affiliated with depository institutions owned mortgage-servicing rights for $1.363 trillion of loans backing Ginnie MBS, or a stunning 67.8% of the market.

Another day goes by, and more pleas to Uncle Sam to fix the MBS liquidity problem. What will it take?

Ginnie MBS data show an increase of 72,224 loans recorded as 30 days past due from February to March. Some 56,266 of those newly delinquent loans were FHA-insured.

The Ginnie Mae portion is $130 billion: Forbearance requests on 5.89% of $2.2 trillion worth of FHA/VA loans that back GNMA MBS.

One of the goals: to assist nonbanks so they are not declared in technical default, an event that would trigger financing covenants they have with their warehouse lenders.

FHA forbearance is expected to swell in the weeks and months ahead...

Among the top five agency MBS issuers in the first quarter, three were nonbanks: Quicken, PennyMac and UWM, according to exclusive figures from Inside Mortgage Finance...

Specifically, Ginnie is permitting a note structure, which allows for the securitization of servicing cash flows through a trust.

MBA said its survey covers 22.4 million loans serviced…