Monthly, Annual MBS Issuance Down at Ginnie
Securitizations on behalf the Government National Mortgage Association descended on a monthly and annual basis. But its book of business continued to grow -- nearing $2 trillion.
Annual HECM Production Jumps to 4-Year High
It has been five years since the number of federally insured reverse mortgages closed was as high as it was last year. The increased volume was generated by fewer lenders.
Up Tick in FHA Business, Delinquency Worsens
Government-insured mortgage production was up from the preceding month but was down from a year ago. Delinquency deteriorated on both a month-over-month and year-over-year basis.
15-Month High for Ginnie's HMBS Issuance
Although overa1l issuance eased at the Government National Mortgage Association, issuance of reverse mortgage securities was the highest it's been in 15 months.
FHA Raises Loan Limits for 2018
As was the case recently for conventional conforming loan amounts, loan limits on forward and reverse mortgages insured by the Federal Housing Administration have been boosted for next year.
Jumbo, Reverse and Nonprime RMBS Issuance to Rise
Issuance of residential mortgage-backed securities filled with jumbo mortgages, nonprime loans and reverse mortgages is forecasted to rise next year, while credit standards are likely to ease.
FHA Endorsements Down, Delinquency Up
New monthly business at the Federal Housing Administration turned lower and is likely to recede even further. Reverse mortgage applications exploded ahead of premium changes. FHA delinquency deteriorated.
Monthly HECM Endorsements Increase
Federally insured reverse mortgage production moved higher both on a month-over-month basis and on a year-over-year basis.
20 Mortgage-Related Events Over Next 90 Days
Over the next three months, 20 mortgage-related conferences, forums and workshops are scheduled to take place. Topics to be covered include bankruptcies, mergers and acquisitions, and reverse mortgage technology.
FHA MMIF Capital Ratio Deteriorates
Following four straight years of improvement, the Mutual Mortgage Insurance Fund's capital ratio deteriorated. No reduction in premiums are likely as reverse mortgages continue to be a problem.