Ginnie, other agencies discuss efforts to modernize technology and business platforms to conform with the digitized, paperless mortgage market and deliver faster, efficient service.
Average FHA and VA credit scores declined for both purchase and refi loans pooled into Ginnie Mae MBS in the first quarter. Wholesale-broker production gained a larger share of the market.
FHA’s and VA’s purchase originations fell during the first three months of 2019 despite lower interest rates. On the other hand, lower rates helped boost both programs’ refinance production during the quarter.
Following seasonal patterns, the number of FHA and VA loans in early stages of delinquency fell sharply from the fourth quarter of 2018 to early 2019. Nonbanks continued to expand their footprint, accounting for 62.2% of outstanding Ginnie single-family servicing.
President Trump this week directed the Treasury Department, the Department of Housing and Urban Development and other federal agencies to come up with a housing-finance reform plan that includes the government-sponsored enterprises, FHA and Ginnie Mae.
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