"The IMB share of Ginnie Mae issuance soared from 12% in 2010 to 94.6% in 2025, and IMBs ultimately replaced banks as the dominant Ginnie Mae issuers during the period. The IMB share of U.S. Department of Veterans Affairs (VA) originations was 95.5% as of November 2024, per Ginnie Mae's Global Markets Analysis Report published in December. The CHLA report also highlighted the struggles characterizing the mortgage industry, specifically the soaring age of a first-time homebuyer, an ongoing affordability crisis and high home prices."
"The CHLA's executive summary pointed to 30-year mortgage rates that have fallen from a peak of 7% a year ago to about 6%, easing costs for homebuyers and allowing some borrowers to refinance. IMBs are nonbank firms that underwrite, originate, close and service mortgages. They're entering a fourth year of consolidation after refinancing activity dropped due to mortgage rates that doubled after the end of the post-pandemic housing boom, the executive summary noted."
CHLA publishes an annual IMB report. The IMB share of Ginnie Mae issuance rose from 12% in 2010 to 94.6% in 2025, and IMBs accounted for 95.5% of VA originations as of November 2024. The mortgage sector faces a rising age for first-time buyers, an affordability crisis and high home prices. Thirty-year mortgage rates declined from about 7% to roughly 6%, easing costs and enabling some refinancing. IMBs are nonbank mortgage firms entering a fourth year of consolidation after refinancing activity dropped when mortgage rates doubled post-pandemic. Lawmakers considered housing legislation while the White House announced Davos initiatives; federal agencies moved to streamline regulations and the CFPB reduced staffing, shifting oversight to state regulators.
Read at www.housingwire.com
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