If needed, the Ginnie PTAP liquidity program is there, but very few issuers are using it. A good sign?

Thanks to high forbearance readings and escalating delinquencies, Wells Fargo is once again playing the Ginnie buyout game. It’s not alone.

The number of loans in Ginnie MBS that had COVID forbearance fell 6% from July to August, although a growing share of the loans fell into the seriously delinquent category. (Includes two data charts.)

The outlook for HECM lending remains positive as rates remain low and seniors move to tap home equity during these troubled economic times. (Includes data chart.)

Thanks to strong cash prices paid by FHA/VA aggregators, fewer mortgage firms are seeking their Ginnie “eagles.”

FHA/VA loans in forbearance decreased by 30 basis points to 10.26% as of July 12.

Reverse mortgage lenders pumped out $3.87 billion in the first three months of 2020. But originations took a big step back in April due to COVID-19. (Includes two data charts.)

Roughly 10% of loans backing Ginnie Mae MBS at the end of May were in forbearance because of the COVID-19 pandemic, but over a quarter of them were still current. (Includes data chart.)

Meanwhile, delinquency rates are noticeably rising, according to Black Knight.