Issuers produced $47.87 billion of new Ginnie Mae single-family MBS in October, the highest monthly volume so far this year. Refis accounted for 31.9% of the new issuance. (Includes two data tables.)
As delinquencies and foreclosures rise, more homeowners using FHA- and Department of Veterans Affairs-backed mortgage loans hold negative equity positions.
The Department of Housing and Urban Development pushed back the compliance date for updated energy standards to 2026 while it reviews industry feedback.
The Bank of Glen Burnie, a Maryland-based lender, expects to substantially grow its residential mortgage business through its recent acquisition of brokerage VA Wholesale Mortgage.
Rising usage of FHA partial claims raised flags for American Enterprise Institute Senior Fellow Tobias Peter amid an ongoing audit of FHA’s efficiency at tracking and collecting the claims.
CHLA called on Congress and federal agencies to work together to correct “budgetary anomalies” that cause certain lending programs to be frozen during shutdowns.
Lender Navy Federal Credit Union surveyed servicemembers and veterans, finding many aren’t aware of the main benefits of home loans backed by the Department of Veterans Affairs.
Borrower payoffs continued to make up the bulk of removals from Ginnie MBS. But the increase in third-quarter volume was led by FHA loan removals for delinquencies and foreclosures. (Includes two data tables.)
FHA Commissioner nominee Frank Cassidy and Ginnie Mae President nominee Joseph Gormley testified before a Senate committee this week, relying on stock language or otherwise sidestepping in their responses.
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