Total Ginnie assets stood at $60.2 billion as of the end of September, up from $39.5 billion a year earlier. And liabilities increased from $9.7 billion to $29.4 billion.
Among a group of large lenders, the broker share of the government-insured market declined to 20.4% in the third quarter, down from 21.2% in the second quarter.
An inspector general identified counterparty risk related to protecting FHA’s Mutual Mortgage Insurance Fund as one of HUD’s top management challenges for 2024.
HUD's IG questioned whether Ginnie could relocate a troubled MBS portfolio from one issuer to another if the first is facing financial or operational challenges.