Servicers of Ginnie product are buying delinquent FHA and VA loans out of MBS pools and now the mortgages are showing up in a different forbearance category.

FHA/VA lending giant Freedom Mortgage acquired servicer RoundPoint Mortgage of Charlotte, NC. Both firms are privately held.

The current method for calculating monthly student-loan payments results in artificially inflated debt-to-income ratios.

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

In a 57-to-40 vote, the Senate confirmed Trump nominee Dana Wade as FHA commissioner. She replaces Brian Montgomery.

At the end of June, 14.07% of FHA loans in Ginnie Mae pools were delinquent, nearly double from 7.57% in March.

One option places past-due mortgage amounts in separate junior liens of up to 30% of the outstanding. The lien is repayable when the mortgage ends, which is usually when a borrower refinances or sells their home.

If HUD implements its proposed final disparate impact rule, exceeding its authority, it could be a challenged under the Administrative Procedure Act, according to an industry attorney.

The government guarantor will begin accepting electronic promissory notes and other digitized loan files for its MBS program.