Mortgage denial rates increase significantly for applicants with debt-to-income ratios above 50%, according to researchers at the Federal Reserve Bank of St. Louis.

A flood of investor capital is driving the transformation of relatively illiquid credit portfolios into more liquid structured transactions that can fetch better ratings.

Joe Gormley will continue to act as FHA commissioner after Frank Cassidy announced his formal exit from the position last week.

The decline in issuance was driven by refinances, with refi volume off 16.8% on a monthly basis.

Frank Cassidy said that he’s resigning from his role as FHA commissioner to return to the private sector.

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.)