Delinquency rates for FHA and VA mortgages pooled in Ginnie Mae MBS increased across the board in the third quarter, with the total delinquency rate on FHA loans topping 10%.
The performance of government-insured mortgages declined slightly in the second quarter of 2024, according to a new Inside FHA/VA Lending analysis of Ginnie Mae servicing disclosures. (Includes four data tables.)
The shifting volumes of the nation’s top servicers reflect MSR strategies in the tight mortgage markets since the Fed began raising rates. (Includes two data tables.)
The flurry of bulk sales of mortgage servicing rights continued into the third quarter, helping shift market share in the GSE market to larger firms. (Includes two data tables.)
GSE MBS issuance involving purchase mortgages (and refis) crested in June. Issuance volume declined by 10.4% on a monthly basis in July, though activity at the lender level was far from uniform. (Includes two data charts.)
Delinquencies on Ginnie Mae mortgage-backed securities increased during the second quarter of 2023, erasing most of the improvement seen in the previous quarter.
Chase Home Finance solidified its position as the largest GSE servicer in the second quarter while the servicing portfolio at second-ranked Wells Fargo continued to shrink.
The flow of new single-family mortgage-backed securities in Ginnie pools dribbled to just $22.66 billion last month. Through the first two months of the year, volume was down 53.9% from the same period in 2022.
Only two major mortgage lenders — PennyMac and CitiMortgage — managed to deliver more loans to Fannie Mae and Freddie Mac in the fourth quarter than in the third. (Includes two data charts.)