New Ginnie Mae mortgage-backed securities volume in the first quarter of 2019 declined to the lowest level in nearly five years. Total single-family MBS production fell 15.7% sequentially to $76.97 billion.
Many of the loans with lower credit scores and higher debt-to-income ratios that get flagged for manual underwriting under FHA’s revised Technology Open to Approved Lenders (TOTAL) Mortgage Scorecard likely will not get endorsed, analysts said. [Includes one data chart.]
FHA jumbo lenders ended 2018 on a sour note with total originations during the fourth quarter declining 9.7% on a sequential basis and a whopping 30.9% from a year ago. Purchase loans accounted for 74.3% of the FHA jumbo market last year. [Includes one data chart.]