FHA delinquency – Misryoum reports Ginnie Mae will temporarily exclude FHA Trial Payment Plans from delinquency ratios to fix reporting anomalies.
A sudden jump in delinquency figures is forcing Ginnie Mae to recalibrate how it counts certain FHA loans, and the change is aimed at preventing issuers from being unfairly penalized.
Misryoum reports that Ginnie Mae will temporarily exclude loans in Federal Housing Administration (FHA) Trial Payment Plans. known as TPPs. from issuer delinquency calculations.. The decision comes as recent reporting showed unexpectedly higher FHA delinquency rates. tied to policy updates that affected how some borrowers move through loss mitigation.
In this context, the shift is designed to address an accounting problem rather than a decline in borrower performance.. Misryoum notes that Ginnie Mae described “reporting anomalies” that emerged after new FHA procedures required borrowers to complete a TPP before reaching final loss mitigation options.
This matters because delinquency ratios influence how the mortgage system is monitored and evaluated, including whether lenders meet compliance expectations. When the timeline of resolution changes, the numbers can move even if underlying borrower risk does not.
Ginnie Mae’s reporting adjustment follows a pattern in which FHA delinquencies rose during the period when TPPs were most prevalent.. Misryoum also notes that the increase in reported delinquency was linked to longer resolution timelines. with 90+ day figures moving differently than earlier-stage arrears.
Importantly, Ginnie Mae emphasized that the situation should not be read as evidence of a rapid deterioration in credit quality.. Misryoum reports that the corporation pointed to the way loans progress through delinquency stages under the updated loss mitigation “waterfall” framework. suggesting the reporting change reflects process timing more than sudden borrower collapse.
Meanwhile, Ginnie Mae said the exclusion will remain in place only until trial plan volumes return closer to expected levels.. Misryoum adds that the policy is set to take effect for monthly reporting due April 2. 2026. and Ginnie Mae committed to providing at least 60 days’ notice before returning to standard delinquency calculation methods.
At the end of the day, Misryoum’s takeaway is straightforward: when reporting rules intersect with recovery timelines, accuracy depends on separating procedural staging from actual credit risk. That is exactly what this temporary recalibration is trying to preserve.