“I didn’t see any bold, new assertions in here,” said one legal source. “I think the CFPB has its theory and they’re sticking to it…”

The third-quarter figure was the largest new insurance written total for the industry since 1Q 2008, when private MIs booked $72.17 billion of new coverage.

It's unclear how the Indianapolis-based Stonegate will compensate for the anticipated loss in originations once it closes the 47 branches.

Over the past 12 months, Florida had the highest number of completed foreclosures at 91,000.

The last nonbank mortgage lender to go public was Stonegate Mortgage, which brought its IPO to market two years ago.

Although the home foreclosure inventory is falling compared to a year ago, some metropolitan areas are seeing an increase in new filings, including Atlantic City.

The private mortgage insurance industry did more business during the third quarter than it has in any period since the housing market came unglued in early 2008 and rolled to another solid round of financial results, according to an Inside Mortgage Finance ranking and analysis. But early indicators suggest the FHA and VA government insurance programs continue to provide stiff competition in the primary MI market. While neither government agency has released new business data for the third quarter, trends in the Ginnie Mae program suggest that the private MI share of new primary coverage drifted down to 33.8 percent in the third quarter, the lowest it’s been since the beginning of 2013. Mike Zimmerman, senior VP for investor relations at Mortgage Guaranty Insurance Corp., said...[Includes three data tables]

Thanks to declining interest rates and higher prepayment speeds in the third quarter – especially on Ginnie Mae receivables – several publicly traded nonbanks were forced to write down the asset value of their mortgage servicing rights, causing millions of dollars in red ink. According to a review by Inside Mortgage Finance of the earnings statements of six nonbanks, the combined servicing markdown was an ugly $448 million. The group includes Nationstar Mortgage, Ocwen Financial, PennyMac Financial Services, PHH Corp., Stonegate Mortgage and Walter Investment Management Corp., the parent of Ditech Financial. Walter took...

The legal table is set for a potentially pivotal court ruling on the mortgage industry’s use of marketing services agreements under the Real Estate Settlement Procedures Act, now that the Consumer Financial Protection Bureau submitted its “reply” brief with the U.S. Court of Appeals for the District of Columbia in the agency’s dispute with PHH Mortgage. In its filing last week in PHH Corp., et al., v. CFPB, the bureau did not try to assert that all MSAs are unlawful or illegitimate, in and of themselves. “Parties to illegal kickback agreements are unlikely to put those agreements into writing. So those agreements may have to be identified based on circumstantial evidence and inference,” said the CFPB. “But RESPA Section 8(c)(2) clarifies when it is not proper to infer an illegal agreement. Illegality cannot be inferred merely because a party that received referrals makes payments to a party that made the referrals. “Moreover, such an arrangement is...

loanDepot Inc. this week priced its much anticipated initial public offering, valuing its soon-to-be-listed shares – 34.5 million units in total – at $18 each or roughly $621 million, a lofty valuation for a company that owns just over $20.9 billion in mortgage servicing rights. Few in the industry are questioning loanDepot’s explosive growth since its inception five years ago, but eyebrows have been raised about the anticipated size of the deal. “It’s...