Performance

FHA/VA Delinquencies Rise in 3Q, More Pain Expected

ewilley@imfpubs.com — Fri, 17 Oct 2025 14:36:52 -0400

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.)

FHA Delinquencies Fall in 1Q, Remain Historically High

ewilley@imfpubs.com — Fri, 18 Apr 2025 13:09:00 -0400

Total delinquencies on FHA loans in Ginnie Mae MBS dipped at the beginning of 2025 but remained high compared to previous years. (Includes four data tables.)

FHA Servicing Under Pressure; VA Foreclosures Resume

bivey@imfpubs.com — Fri, 07 Mar 2025 14:39:06 -0500

Delinquencies on FHA mortgages are rising much more quickly than delinquencies on conventional mortgages, though large FHA servicers don’t appear to be too concerned. Meanwhile, VA foreclosures resumed in January after a moratorium ended.

Delinquencies Rise Among Government Loans in 2Q24

mhogan@imfpubs.com — Fri, 19 Jul 2024 13:25:39 -0400

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.)

VA, Servicers Work Through VASP Implementation

mhogan@imfpubs.com — Fri, 05 Jul 2024 14:09:00 -0400

Servicers have until Oct. 1 to implement the new VA Servicing Purchase loss-mitigation program. Meanwhile, the House Committee on Veterans’ Affairs introduced legislation to authorize a VA partial-claim loss-mitigation option.

Local Market Factors Impact FHA Loan Performance

mhogan@imfpubs.com — Fri, 05 Jul 2024 14:02:00 -0400

Borrowers’ perceptions of their home valuations are influenced by localized stressors, according to economists in HUD’s Office of Policy Development and Research.

Nonbank FHA Lenders Helped By ‘Soft’ Information

bivey@imfpubs.com — Fri, 03 Nov 2023 12:14:02 -0400

Large bank correspondent aggregators of FHA mortgages looked to firm guidelines on credit scores and LTV ratios while Fed researchers found that smaller nonbank lenders were willing to go down in credit and loan performance didn’t suffer.

Some Variation in Ginnie Loan Removal Activity

bivey@imfpubs.com — Fri, 25 Aug 2023 09:15:15 -0400

Loan removals from Ginnie MBS increased in the second quarter of 2023. Removals are largely tied to loan payoffs, though there are some variations among servicers. (Includes data chart.)

Ginnie Loan Removals Subdued in First Quarter

amalatinszky@imfpubs.com — Fri, 05 May 2023 15:49:05 -0400

Loan removals from Ginnie Mae MBS fell to their lowest point in at least four years as payoffs, defaults and loss mitigation all ebbed in the first quarter of 2023. (Includes data chart.)

Forbearance Dwindles But Still High for FHA/VA Loans

mhogan@imfpubs.com — Fri, 24 Mar 2023 11:56:54 -0400

Although the share of Ginnie Mae loans in forbearance decreased to 1.28% in February from 1.37% the prior month, there are still concerns about FHA/VA loan performance.

FHA Delinquencies Continue to Rise, VA’s Flat in 3Q

mhogan@imfpubs.com — Fri, 28 Oct 2022 14:31:52 -0400

The delinquency rate for FHA single-family loans pooled in Ginnie Mae mortgage-backed securities increased to 7.29% at the end of September, driven by loans in the 30 to 60 days bucket. (Includes four data charts.)

Ginnie Forbearance Reading Declines But Rate Slows

mhogan@imfpubs.com — Fri, 18 Mar 2022 14:56:37 -0400

COVID-19-related circumstances were a factor for about 96% of the loans in forbearance in Ginnie MBS at the end of December.

OIG: Servicers Compliant With Forbearance Reporting

mhogan@imfpubs.com — Fri, 27 Aug 2021 13:10:00 -0400

Key metrics reviewed in HUD’s single-family default monitoring system showed that residential servicers generally complied with HUD’s forbearance reporting requirements for FHA loans.

Rare Spottings of Ginnie Bulk MSR Deals

pmuolo@imfpubs.com — Fri, 11 Dec 2020 16:05:00 -0500

Ginnie Mae MSR auctions are a reality once again. Stay tuned.

Overall, Forbearance is Flat Except in Ginnies

pmuolo@imfpubs.com — Fri, 11 Dec 2020 16:00:00 -0500

High unemployment readings are fueling an increase in Ginnie forbearance. Trouble ahead?

The FHA MMIF Posts Solid Capital Ratio of 6.10%

news@imfpubs.com — Fri, 13 Nov 2020 16:00:00 -0500

FHA delinquencies are a paramount concern for regulators and lenders but the MMIF closed fiscal 2020 on solid footing. (Includes data chart.)

Hope Springs Eternal on Ginnie Bulk Deals

Fri, 13 Nov 2020 15:45:00 -0500

The Ginnie Mae bulk MSR market has been parched since the pandemic started. Is a recovery finally in the wind?

FHA Loans in Seriously Delinquent Category Increase

news@imfpubs.com — Fri, 02 Oct 2020 13:53:00 -0400

According to FHA Neighborhood Watch, serious delinquencies have increased from 10.4% to 11.2%.

GAO Finds HUD Data Protection Protocols Lacking

news@imfpubs.com — Fri, 02 Oct 2020 13:00:00 -0400

According to GAO, HUD is not able to fully identify what sensitive information is shared, stored and processed with external entities.

HECM Lending Remains Strong During COVID

pmuolo@imfpubs.com — Fri, 18 Sep 2020 16:01:00 -0400

The outlook for HECM lending remains positive as rates remain low and seniors move to tap home equity during these troubled economic times. (Includes data chart.)

(Very) Quiet Signs of Life in Ginnie Servicing Sales

pmuolo@imfpubs.com — Fri, 04 Sep 2020 11:00:00 -0400

Selling Ginnie Mae servicing rights has been a difficult task the past few months. Signs of life anywhere? It all depends on your definition of the word life.

No. 2 FHA Lender Sees Even Better Times in 3Q20

pmuolo@imfpubs.com — Fri, 04 Sep 2020 10:30:00 -0400

Quicken Loans, a top-ranked FHA and VA lender, had stellar results in 2Q.

Ginnie Loans in Forbearance Drop, But Wait, There’s More

news@imfpubs.com — Fri, 21 Aug 2020 16:18:00 -0400

Servicers of Ginnie product are buying delinquent FHA and VA loans out of MBS pools and now the mortgages are showing up in a different forbearance category.

FHA Giant Quicken (Rocket) Has a Blow-out Quarter

pmuolo@imfpubs.com — Fri, 21 Aug 2020 16:00:00 -0400

Rocket Companies, which controls Quicken, one of the largest FHA and VA funders, posted stellar earnings for 2Q20. The figure, however, is preliminary.

The MMIF Audit is Almost Done. Should FHA Be Worried?

pmuolo@imfpubs.com — Fri, 07 Aug 2020 14:50:00 -0400

Soon after the government’s fiscal year ends on Sept. 30, the annual audit of the FHA’s MMIF will be published. Should HUD be worried?

Ginnie Mae Loans in Pandemic-Related Forbearance Increase

news@imfpubs.com — Fri, 07 Aug 2020 14:20:00 -0400

At the end of June, 14.07% of FHA loans in Ginnie Mae pools were delinquent, nearly double from 7.57% in March.

FHA/VA Delinquencies Soar in 2Q20, Is the Worst Over?

jbancroft@imfpubs.com — Fri, 24 Jul 2020 16:15:00 -0400

There was a huge spike in early-payment delinquencies in April that migrated to more serious categories of default in May and June. Last month saw a huge increase in servicer buyout of delinquent loans. (Includes four data charts.)

A Growing Fear that Ginnie ‘Buyouts’ Could Mushroom

pmuolo@imfpubs.com — Fri, 12 Jun 2020 14:30:00 -0400

Ginnie MBS investors hate loan buyouts because it alters prepayment speeds. Will the COVID-19 crisis spark a wave of new activity?

Private MI Firms Essent, NMI on a Capital-Raising Spree

pmuolo@imfpubs.com — Fri, 12 Jun 2020 14:20:00 -0400

FHA may be having a tough time with forbearance requests, but the PMI sector is doing fine: Two firms recently tapped the capital markets.

Top-Ranked FHA Lender Posts Stunning Gain-On-Sale

pmuolo@imfpubs.com — Fri, 29 May 2020 14:00:00 -0400

Even though loan forbearance is an issue that won’t go away, some FHA lenders are reporting off-the-charts profit margins. Included in that club: Mr. Cooper.