Wednesday, March 14, 2018 2:28:22 PM
Tuesday March 14, 2018 ... By George Brooks ... gbrooks@imfpubs.com
Mortgage firms delivered $250.5 billion of FHA loans into Ginnie Mae mortgage-backed securities in 2017, down 8.7 percent from the year before, according to a tally from Inside FHA/VA Lending.
Purchase loans comprised 69.6 percent of Ginnie MBS issuances backed by FHA loans over the 12- month period, while refinances accounted for 24.8 percent.
FHA customers had an average FICO score of 675.3, suggesting a more traditional borrower base of first-time homebuyers with credit issues.
The FHA loans that were securitized had an average loan-to-value ratio of 92.8 percent and a debt-to-income ratio of 41.3 percent. For more details and exclusive FHA volume rankings,
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