Some 10.90% of FHA loans in Ginnie Mae MBS pools were delinquent at the end of September, up 51 basis points from the end of June. The delinquency reading on the VA side rose 9 bps to 4.37%. (Includes data table.)
While most of the top Ginnie Mae servicers reported single-digit portfolio increases in the second quarter, United Wholesale Mortgage’s Ginnie servicing volume increased a whopping 87.8% year over year. (Includes three data tables.)
Most government-insured mortgage lending continues while the government is out of commission, but lending under the Department of Agriculture’s Rural Housing Service is on hold.
Despite best efforts of lenders to create awareness of the VA home loan program, many veteran borrowers still fall through the cracks, according to Freedom Mortgage COO Mike Patterson.
A federal judge issued a temporary restraining order blocking planned layoffs at federal agencies, including the Department of Housing and Urban Development’s Office of Fair Housing and Equal Opportunity.