Ginnie Mae

The percentage of borrowers who have asked to temporarily suspend payments due to coronavirus-related hardships is down overall, but in the Ginnie Mae market, they're still inching up.

The restrictions on the pooling of loans with any interest term based on Libor will be effective for traditional mortgage-backed securities issued starting Jan. 21, 2021, and earlier for reverse-mortgage securitizations.

After flattening over the three prior weeks, the number of loans going into coronavirus-related forbearance dove at a rate not seen since early August, according to the Mortgage Bankers Association.

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

"The current economic crisis continues to disproportionately impact borrowers with FHA and VA loans," said Mike Fratantoni, the MBA's senior vice president and chief economist.

For the first time since June 7, the number of loans going into coronavirus-related forbearance didn't decrease from the week before, according to the Mortgage Bankers Association.

The number of loans going into coronavirus-related forbearance decreased for the tenth straight week, but to a lesser degree than in previous weeks, according to the Mortgage Bankers Association.

The number of loans going into coronavirus-related forbearance decreased for the ninth consecutive week, according to the Mortgage Bankers Association.

The number of loans going into coronavirus-related forbearance was down for the eighth consecutive week, as the growth rate fell 23 basis points between July 27 and August 2, according to the Mortgage Bankers Association.

Ginnie Mae helped to fund more than $70 billion in loans aimed at helping low- and moderate-income borrowers in July.