The MBA is taking its concerns about rising costs for obtaining credit scores to the Federal Housing Finance Agency, the Consumer Financial Protection Bureau and the Federal Trade Commission, among other entities.
The amount of Ginnie Mae servicing outstanding increased by 1.9% in the fourth quarter. On an annual basis, servicing volume was up 8.2%. Defaults on loans in Ginnie MBS are also rising, particularly for FHA loans. (Includes four data tables.)
If the government-insured mortgage programs don't follow FHFA in shifting to a bi-merge process, then it's not worth making the switch for GSE loans, according to CHLA.