Denis McDonough, secretary of the Department of Veterans Affairs, said VA’s track record on mortgage financing is the best in the industry and that foreclosures among VA borrowers are extraordinarily rare.
The correspondent channel accounted for 47.5% of FHA/VA originations in 2023, up from a 46.8% share in 2022, based on volume from a subset of lenders that produced the majority of FHA/VA volume.
According to an analysis by Inside MBS & ABS, $1.88 billion of VA rate/term refinance loans were included in Ginnie MBS issued in February 2024, compared with $298.5 million in January.