With liquidity and an uncertain regulatory environment dominating this year’s Ginnie Mae summit in Washington, DC, top agency officials called on stakeholders and other market participants to stand up to the challenges posed by a rapidly evolving Ginnie marketplace. Chief among those challenges is the growing domination of the Ginnie market by independent mortgage bankers, who now account for 80 percent of the agency’s monthly issuance volume. Ginnie President Ted Tozer reiterated his concerns raised last year about the increasing number of nonbanks in the agency mortgage-backed securities market with very little experience and liquidity. In his opening remarks, Tozer acknowledged...

Altisource’s stock price declined by 6.4 percent to $30.77 per share shortly after the charges were announced, but the stock has rebounded somewhat…

Nonbank loan administrators expanded their share of the mortgage servicing market during the second quarter, mostly capturing agency business abandoned by large banks, according to a new ranking and analysis by Inside Mortgage Finance. Commercial banks, savings institutions and credit unions reported a combined single-family servicing portfolio of $6.930 trillion as of the end of June, according to call reports. That was down 0.5 percent from the previous quarter despite the fact that the total depository portfolio holdings of unsecuritized mortgages increased 1.7 percent during that period. But bank, thrift and credit union loan servicing for others – typically loans held in mortgage-backed securities trusts – fell...[Includes two data tables]

The improved numbers suggest that the industry’s fears those rules would crush or even depress the market somewhat were overblown.

The Wells account and credit card scandal did not involve mortgages, but the bank is the nation’s largest overall home funder and retail originator.

A group of 13 publicly traded lenders reported a combined $1.72 billion in production and secondary marketing income for the second quarter.

Meanwhile, bank whole loan portfolios have been increasing – largely because of the resurgence of jumbo mortgage originations, along with the recovery in home-equity lending.

The privately held Stearns Lending is already “offering mortgage banking services” to the homebuilder’s customers…

Margaret Sweeny, the judge presiding over the case, is growing increasingly frustrated with the government’s attempt to keep documents out of the public domain

So, what’s wrong with banks and financial service companies offering sales quotas? Nothing at all, if...