Ginnie Mae's growing mortgage-backed securities issuance has hit a record monthly high of $34.5 billion. The record was set in March. Total single-family issuance was $34.1 billion with the balance coming from multifamily issuance during the month. Within the single-family category, Ginnie I s represented $28.2 billion of the total and Ginnie II s represented the remaining $5.9 billion.
Smaller builders felt the greatest impact of material cost increases, as new Trump administration tariffs add a layer of worry for the construction industry.
The national delinquency rate dropped 16 basis points to 3.39% last month, according to the Intercontinental Exchange's latest first look report.
The product expansion comes at a time when not just non-agency issuance is expected to have a record year, but other lenders are getting into wholesale.
Seven federal agencies rescinded a 2022 guidance that encouraged creditors to offer special purpose credit programs to underserved communities.
Price gains slowed to a crawl from May to June, specifically in the West, but Central and East Coast regions showed steady year-over-year gains.
The company last week introduced a temporary shareholder rights plan to curb any attempt by Garg to use supervoting shares and reinstall himself as CEO.