Ginnie
Mae
unveiled
a
significant
revision
on
Wednesday
to
its
monthly
single-family
reporting
protocols. 
The
government
mortgage
bond
guarantor
incorporated
expanded
its
payment
default
status
(PDS)
reporting,
including

loan
default
information,
any
mitigation
actions
taken
and
the
timing
of
these
actions. 

The
agency
said
that
this
move
underscores
its 
commitment
to
vigilant
monitoring
of
delinquent
loans,
which
can
exert
financial
strain
on
nonbank
entities.

“The
PDS
revision
is
an
important
component
toward
our
ongoing
transition
to
granular
loan-level
data
collection
and
analysis,”
Sam
Valverde,
Ginnie
Mae
principal
executive
vice
president,
said
in
a
statement.
“These
data
will
allow
us
to
better
evaluate
the
liquidity
strains
in
the
market
and
inform
our
understanding
of
risk
management
and
oversight
activities.”

By
implementing
this
revision,
Ginnie
Mae
aims
to
tap
into
additional
metrics
to
monitor
default
status
across

mortgage-backed
securities
(MBS)
collateral.
It
will
afford
Ginnie
Mae
deeper
insights
into
servicer
liquidity
stress
and
loss-mitigation
outcomes.

The
revised
PDS
reporting
mandate
applies
not
only
to
issuers
of
Ginnie-backed
securities
but
also
to
the
vendors
responsible
for
managing
their
servicing
platforms.
Additionally,
subservicers
that
collaborate 
with
Ginnie
Mae
issuers
will
be
subject
to
this
mandate,
according
to


National
Mortgage
News.

While
single-family
mortgage
delinquencies
have
remained
relatively
subdued
in
recent
times,
they
tend
to
be
more
prevalent
among
loans
under
Ginnie’s
purview,
such
as
those
through
the


Federal
Housing
Administration
(FHA)
and
the


U.S.
Department
of
Veterans
Affairs
(VA). 

While
the

delinquency
rate
for
all
types
of
residential
mortgages
stood
at
3.88%
at
the
end
of
last
year,
the
FHA
rate
was
10.81%
—
its
highest
level
since
third-quarter
2021
—
and
the
VA
rate
was
4.07%,
the

Mortgage
Bankers
Association
reported.

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