Wells Fargo is in the process of changing where residential loans fit into the bank’s overall business. The company’s CEO cited GSE mortgages as a product that presents risk to the bank.

Ginnie Mae MBS issuance in April remained flat month-over-month even as refinance activity declined dramatically. (Includes two data charts.)

FHA restores access to Loan Review System; FHA extends post-foreclosure sales timeframe; HUD housing counseling advisory committee to meet; HUD to host webinar on HECM counseling program; Ginnie Mae to host listening session; Wells Fargo announces military spouse hiring program; USDA’s mandatory use of Guaranteed Underwriting System and Lender Loan Closing System takes effect.

Wells Fargo layoffs hit home lending division; Black Knight launches tool to confront appraisal bias; mortgage delinquencies hit record low in March; and more...

A lawsuit filed by Oakland, CA, in 2015, alleging that discriminatory lending by Wells Fargo eventually prompted a decrease in property tax collections, was ultimately decided in favor of the lender.

Wells Fargo stocked its latest prime non-agency MBS with conforming jumbo mortgages and Redwood Trust is using blockchain technology in its new deal.

Michael DeVito, former head of home lending at Wells Fargo, will take the helm at Freddie Mac.

Michael DeVito comes out of retirement to take the helm at Freddie Mac next month.

The new policy, which begins Jan. 1, will allow servicers to purchase delinquent loans out of MBS pools for up to two years.

As funding sources dried up late in the first quarter, members sharply increased their FHLB advances. But when financial markets stabilized in the second quarter, these short-term loans weren’t replaced. (Includes two data charts.)