Ginnie Mae

The sector’s leaders are hoping for better in 2021, while not forgetting lessons learned about the market’s risks in 2020.

FHA volumes, a key contributor to Ginnie Mae issuance, could fall as long as the refinancing boom continues — unless the FHA takes a step that could reverse that trend.

The forbearance rate continued recovering in lockstep with employment improvement, according to the Mortgage Bankers Association.

The forbearance rate improved to the a level not seen since early April, but getting back to pre-COVID levels will require employment gains or additional government stimulus measures, according to the Mortgage Bankers Association.

The origination boom generated another profit for the company in the third quarter, when also it obtained a novel source of liquidity to support its servicing operations.

How we resolve millions of delinquent mortgages due to COVID is the only question that matters.

The final consent order contained the largest penalty, for $1.8 million to be paid by Low VA Rates. In total, the CFPB has issued $4.4 million in fines for such marketing of VA loans.

A booming housing market contrasts with a slow-to-improve job market, making for lopsided improvement in the number of troubled mortgages, according to numbers from the Mortgage Bankers Association.

The pandemic has turned stress-testing around liquidity from theory into an actual case study. And while lenders shore up their cash reserves, they explain why many have been hesitant to take advantage of Ginnie Mae's Pass-Through Assistance Program.

The overall forbearance rate was under 6% for the first time since April as another large swath of loans fell out of CARES Act coverage, according to the Mortgage Bankers Association.

A surge of mortgage originations allowed Ginnie Mae to surpass its high watermark for mortgage-backed security issuance by nearly 33%.

Forbearance rates dropped below 7% for the first time in six months, but the decrease is largely due to the ending of the initial six-month term of forbearance granted by the legislation, according to the Mortgage Bankers Association.

GSE mortgages in forbearance fell for the 17th straight week, spearheading the overall downtrend, according to the Mortgage Bankers Association.

The net share of mortgages in Ginnie Mae securitizations with suspended payments appears to be stabilizing, but the number of new requests creates doubt about whether it will subside.

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.