After a boomlet in April, Ginnie issuance declined a bit in May. Refi volume declined, while issuance involving purchase mortgages ticked up thanks to spring homebuying. (Includes two data tables.)

Frank Cassidy, who stepped away from his position as FHA commissioner in April on what was originally a temporary leave of absence, announced this week that he’s returning to the private sector.

The Department of Veterans Affairs updated its loss mitigation waterfall to incorporate the partial claim option that’s received much fanfare since its political inception.

FHA is seeking comments on its minimum property requirements, signaling the possibility of future alignment with the government-sponsored enterprises.

The volume of delinquent loans removed from Ginnie Mae mortgage-backed securities increased on a quarterly basis in the first quarter. Overall liquidations declined, with fewer payoffs. (Includes two data tables.)

The Department of Veterans Affairs posted an article educating borrowers about refinance opportunities, and warning them of a variety of pitfalls including unwanted or misleading advertisements.

FHA automated the case number assignment protocol for condominium spot approvals.

House passes bill increasing IRRRL fees; FHA closes OIG recommendations; USDA adds Native CDFI.

Although changes to FHA’s loss-mitigation policies are expected to resolve most of the persistent re-defaults in its portfolio, FHA borrowers continue to be the most exposed to financial stressors.

Ginnie Mae President Joe Gormley addressed how he’s been filling a dual role as temporary FHA head since Commissioner Frank Cassidy went on leave from the position in April.