The increase was driven by refinances, particularly VA refis.

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.

The appropriations bill includes $54 million in funding for Ginnie for fiscal year 2024 compared with $40 million in funding for FY 2023.

Combined, FHA and VA lending declined by 17.7% in the fourth quarter.

Effective immediately, Ginnie issuers must notify the agency of any cybersecurity incident within 48 hours after the issue is detected.

VA processed 2,244 loan assumptions in 2023, compared with 308 in the previous year.

“You’re not doing this program without my permission,” said Rep. Derrick Van Orden, R-WI.

FHA, VA, Ginnie Mae and USDA are working with MISMO on a new servicing dataset.

Refis accounted for 15.0% of Ginnie issuance in January compared with a 14.7% share the previous month.

Leaders at FHA and VA haven't ruled out following the Federal Housing Finance Agency in a shift from a tri-merge score process to a bi-merge process.