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Volume 11 - Number 15

July 27, 2018

Downloads Available: Delinquency Status of FHA and VA Loans in Ginnie Mae MBS: 1Q14-2Q18

Downloads Available: Top GNMA Issuer/Servicers: 2Q18

Downloads Available: Top GNMA Issuers/Servicers - FHA Loans: 2Q18

Downloads Available: Top GNMA Issuers/Servicers - VA Loans: 2Q18


FHA/VA Serious Default Rates Down in 2Q18, Coissuance Heavy

Both FHA and VA saw measurable declines in the number of seriously delinquent loans during the second quarter, although early-stage default rates were up slightly. A new Inside FHA/VA Lending analysis of Ginnie Mae mortgage-backed securities data found timely payments being made for 93.6 percent of FHA loans and 96.7 percent of VA loans at the end of June. Those numbers were off slightly from the first quarter, when seasonal factors typically lead to the lowest delinquency rates of the year. The increase in late payments was concentrated in loans that were one or two months overdue. There were 419,366 FHA and VA loans in this category at the end of June, up 13.5 percent from the end of March. They represented 4.13 percent of total FHA and VA loans in Ginnie MBS. FHA delinquency rates were substantially higher than those in the VA program, and the number of early-stage delinquencies ... [Charts]

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%