Mortgages tied to Ginnie Mae accounted for 18.3% of total servicing outstanding at the end of September. Some servicing share shifted away from the GSEs, though Fannie and Freddie still dominate. (Includes two data tables.)

The MBA advanced a proposal to limit the tri-merge requirements on GSE mortgages to applicants with credit scores below 700, in an effort to reduce the cost of originating loans. Some argue that the real problem is pulling scores for borrowers who are never going to qualify for a mortgage.

Kenny Smith worked at Deloitte for more than 25 years before retiring in 2020. He isn’t well known among mortgage industry participants.