Roughly $24.0 billion of home-equity lines-of-credit and second mortgages were originated during 2Q, up 23.1 percent from the first three months of the year.
Meanwhile, refinance lending rose just 0.9 percent from the first to the second quarter, but still accounted for just over half of new originations during the period.
Ginnie’s big advantage is that it gets all the FHA and VA loans, while the GSEs so far have not gotten much traction in their reduced-downpayment programs.