Many smaller lenders can’t access the Ginnie platform because its eligibility standards require issuers to have “huge volumes,” Ginnie President Alanna McCargo noted.
Ginnie Mae's single-family outstanding was up 2.2% in the second quarter while the GSEs posted a 0.3% increase in servicing compared with the end of March..
The existing partial claim option isn’t effective because interest rates are so much higher now than when most FHA borrowers signed their present mortgage, analysts at the Urban Institute noted.