The refi share of Ginnie issuance increased to 43.9% in the first quarter of 2026, the highest since the second quarter of 2021.

The correspondent channel accounted for 38.0% of government-insured originations in 2025, up from a 34.5% share in 2024.

The Mortgage Bankers Association urged VA to adopt lender-generated documentation and bulk invoicing because loan-specific invoices are often not available.

Patrick Zondervan, executive director of the VA Loan Guaranty Service, said the agency was “absolutely willing” to examine its appraiser requirements.

Some $2.71 trillion of Ginnie servicing was outstanding as of the end of 2025, up 6.8% from 2024.

The $87.67 billion of removals were largely tied to borrower payoffs.

VA proposed backdating eligibility for the program to May 1, 2025, picking up where the Veterans Affairs Servicing Purchase program left off.

The number of homes relisted in January was the highest figure for the month since 2016, according to Redfin.

Refi guarantees in the Department of Veterans Affairs’ home loan program more than doubled during the fourth quarter.

Issuance of Ginnie Mae mortgage-backed securities increased by 3.5% on a monthly basis in January.