Both FHA and VA volume in Ginnie MBS issuance declined on a monthly basis in October.

The total delinquency rate on mortgages in agency MBS stood at 2.83% as of the end of September, up from 2.60% at the end of June.

Both the FHA and VA programs saw increases, but the bulk of the growth in Ginnie issuance in the third quarter came from FHA loans.

Mortgage lenders delivered $282.16 billion of first-lien home loans into the agency secondary market during the third quarter of 2023, a modest 2.3% increase from the prior period, according to a new ranking and analysis by Inside Mortgage Finance.

In the conventional-conforming sector, the securitization rate rose to 71.4% from 68.8% as Fannie Mae and Freddie Mac churned out new MBS faster than the market was making new loans.

Delaware Supreme Court Chief Justice Collins Seitz wrote that ACE’s argument against making an insurance payout would effectively exclude “just about anything remotely connected to the professional service” from receiving insurance coverage.

Lending tied to the GSEs will largely carry on as usual though government-insured business could face some difficulties during a government shutdown.

Leaders of the Mortgage Bankers Association and the Housing Policy Council argue that the government's role in the mortgage market is too large.

Brokers saw the biggest sequential increase in FHA/VA business, with volume up 59.1% from the first quarter to $13.35 billion.

The requirements were published in August 2022, providing issuers with a long lead time to gain compliance.