As the economic fallout from the coronavirus worsens, all eyes are on the FHA book of business. Forbearance is here but delinquencies could spike. And what about nonbank issuer/servicers? Ginnie isn’t saying much.
The rapid rise in refinance lending in the second half of 2019 boosted consumer-direct activity for FHA/VA lenders, though the correspondent channel remained the largest source of new business. (Includes data chart.)