Posted To: MND NewsWire
We recently summarized a report from the Urban Institute (UI) about the apparent reluctance of sellers to entertain offers from prospective buyers intending to use FHA or VA financing. UI based its conclusion on both a survey of real estate agents conducted by the National Association of Realtors and the recent decline in the FHA and VA share of originations. Black Knight, in its new Mortgage Monitor covering loan performance data for May, validates , to an extent, UI’s suggestion, using recent issuances of mortgage-backed securities (MBS). The company says that Ginnie Mac’s securities, composed primarily of FHA and VA loans, represented about one third of the agency market before the pandemic. It has dropped to less than 25 percent in recent months. The loss has been driven in part by borrowers…(read more)
