Jordan lends in roughly 45 states and its loans have an average life of about eight months. The nonbank extends credit at rates of 10 to 12 percent.

Industry consultant Joe Garrett is advising his clients to keep a “concession log…”

Nine firms issued jumbo MBS in 2015 and JPMorgan Chase was the top issuer for the second year in a row.

Prior to Quicken filing its suit in April 2015, HUD had tried to work out a multi-million dollar legal settlement with the lender, whereby Quicken would admit to wrongdoing.

The agency is warning lenders that the annual recertification can be a lengthy, time-consuming process.

Back in April, the privately held Quicken sued the two cabinet level agencies and their leaders, claiming the residential lender was a target of a “political agenda" under which the DOJ…

“There is no policy rationale for the federal government to continue to subsidize the portion of mortgages that exceed $500,000,” said Sheila Crowley, NLIHC’s president and CEO.

As IMFnews went to press, Stonegate Mortgage was suffering the most among real estate finance-related stocks, down 7.16 percent on the day.

“A terrible outcome,” one mortgage consultant told IMFnews…

A strong first half of 2015 helped the issuance of jumbo mortgage-backed securities top the volume seen in 2014, according to a new analysis by Inside Nonconforming Markets. But as the year progressed, issuance slowed and industry analysts don’t expect much of an increase in volume in 2016. Some $12.08 billion in jumbo MBS were issued in 2015, up 25.4 percent compared with 2014 but not enough to match the $13.12 billion in 2013 issuance. And jumbo MBS activity ... [Includes one data chart]