Servicers of government loans in Ginnie Mae mortgage-backed securities will need to ramp up buyout activity as delinquencies in their portfolios increase.

The delinquency rate on FHA-insured mortgage loans jumped nearly a percentage point during the fourth quarter of 2025 to surpass the reading at the end of 2020. (Includes four data tables.)

Borrower payoffs continued to make up the bulk of removals from Ginnie MBS. But the increase in third-quarter volume was led by FHA loan removals for delinquencies and foreclosures. (Includes two data tables.)