Issuance of Ginnie Mae mortgage-backed securities rose 19.2% in the second quarter.

Prepayment rates are expected to be higher than in previous refinance cycles because lenders have bumped up spending on technology to improve recapture rates and loan originators are eagerly anticipating increasing their volume.

John Bell, executive director of the VA Home Loan Guaranty Service, said the agency doesn’t support the partial claims bill without amendments.

Lenders delivered $27.21 billion of purchase loans into Ginnie MBS in May, up 7.5% from the prior month.

The VA said Wednesday it is “strongly” encouraging mortgage servicers to extend their pause of foreclosures for VA-guaranteed home loans through the end of this year.

FHA's share of combined FHA/VA lending declined to 60.8% in the first quarter of 2024.

“We are fully committed to ensuring that veterans are neither disadvantaged nor overcharged in the homebuying process,” said VA Press Secretary Terrence Hayes.

Government-insured production increased by 11.0% compared with the fourth quarter while total first-lien originations were up 3.2% during that time.

The Mortgage Bankers Association and the National Association of Realtors applauded the news.

Ginnie will begin mixing eNotes and paper notes within the same pools.