FHA Commissioner Dana Wade said this was the first time there have been no material weaknesses or significant deficiencies identified with its financial statements.
FHA delinquency rates went down 6 basis points to 15.59%, a Mortgage Bankers Association survey found. Though worth noting: FHA loans in the seriously delinquent category (90-days past due) reached a survey-high of 10.76%.
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.)