Many smaller lenders can’t access the Ginnie platform because its eligibility standards require issuers to have “huge volumes,” Ginnie President Alanna McCargo noted.

Interest rates on FHA mortgages are at levels last seen in 2002.

The uptick was more pronounced for FHA mortgages.

HUD noted that over the years many lenders have moved away from a model of local origination and servicing offices to more centralized operations.

Ginnie issuance increased by 33.7% on a quarterly basis in the second quarter.

HUD proposed applying certain requirements for approved FHA lenders/servicers to entities that invest in FHA mortgages.

The correspondent channel captured 49.1% of originations in the first quarter, up from a 47.3% share in the previous quarter.

HUD requires FHA servicers to conduct a “face-to-face” meeting or make a reasonable effort to do so before foreclosing.

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.

Ginnie Mae MBS issuance increased by 3.3% on a monthly basis in May.