Ginnie Mae MBS issuance declined 10.7% in the first quarter of 2026 due to a seasonal slowdown in purchase lending. Refinance activity held steady, helped by FHA business. (Includes four data tables.)

Among a large group of lenders, the correspondent channel accounted for a 38.0% share of government-insured originations in 2025, up from a 34.5% share in 2024. (Includes data table.)

Endorsements of home equity conversion mortgages increased by 3.2% on an annual basis in 2025, even with four consecutive quarterly declines since the fourth quarter of 2024. (Includes three data tables.)

Servicers of government loans in Ginnie Mae mortgage-backed securities will need to ramp up buyout activity as delinquencies in their portfolios increase.

Some $87.67 billion of loans were removed from Ginnie Mae mortgage-backed securities during the fourth quarter of 2025, with about 87% of them representing borrower payoffs. (Includes two data tables.)

November issuance of Ginnie Mae single-family mortgage-backed securities increased as lower interest rates continued to drive refinance activity. (Includes two data tables.)

While most of the top Ginnie Mae servicers reported single-digit portfolio increases in the second quarter, United Wholesale Mortgage’s Ginnie servicing volume increased a whopping 87.8% year over year. (Includes three data tables.)

The denial rate for VA home loan refinances fell sharply between 2023 and 2024, at the same time VA refi applications doubled, according to a new analysis by Inside FHA/VA Lending. (Includes data table.)

Veterans United Home Loans saw a sharp decline in correspondent sales of government-backed loans in 2024, while volume at Guild Mortgage and Rate surged. (Includes data table.)

The recent tightening of FHA loss-mitigation options will likely lead to more early loan buyouts, which PennyMac CEO David Spector sees, at the very least, as a net neutral development for the business.