Within two weeks, the government guarantor will roll out a Pass-Through Assistance Program (PTAP) whereby issuers with a principal and interest shortfall may request that Ginnie advance the difference between available funds and the scheduled payment to investors.

Those 21 states accounted for $919.3 billion of single-family business funneled through Fannie Mae, Freddie Mac and Ginnie Mae into mortgage-backed securities issued in 2019.

Actions by the Fed to help the mortgage market haven't don't much for non-agency MBS. Issuance ground to a halt and a number of lenders suspended production.

Back in September, Freedom’s financials looked strong. The lender/servicer is privately held...

Roughly $220.8 billion of VA loans were delivered into Ginnie mortgage-backed securities last year...

Bottom line: The Fed will keep buying agency MBS as long as it has to...

Consultant Paul Hindman, who heads Grid Financial, said he knows of one lender who recently sent 1,000 workers home “with new equipment.” He did not identify the shop by name.

Freedom Mortgage said it has mobilized its work-from-home protocols and “dramatically reduced our work-from-office personnel.”

The goal is to stop a tidal wave of housing-related financial damage that might potentially destroy the social fabric of the nation.

And therein lies a chief fear for the mortgage industry: as the economic damage caused by the spreading coronavirus piles up, will nonbank Ginnie issuers have enough liquidity to make those payments in the months ahead?