Refinances of loans insured by the Department of Veterans Affairs declined in the second quarter, according to an Inside FHA/VA Lending analysis and ranking of endorsement data. (Includes three data tables.)

Lenders turned down 22.0% of applications received for FHA loans in 2025. The rejection rate on VA mortgages was a more modest 16.1%. (Includes data table.)

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.)

Executive orders from President Trump aiming to address housing supply and affordability include many FHA and VA provisions.

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.)

FHA proposed loosening restrictions on auction platforms for claims without conveyance of title sales.

Industry groups recommended that FHA consider reverting the upfront mortgage insurance premiums on home equity conversion mortgages to the previous risk-based model.

FHA proposed tweaking its limited 203(k) rehabilitation loan program to reduce financial burdens on contractors.