One official described the situation: “Just more house cleaning now that Harold [Lewis] is gone. Most of the senior people leaving were his supporters.”

One of the departing executives at Nationstar Mortgage used to work at JPMorgan Chase, Fannie Mae and Macquarie Bank…

Compared to a year ago, bank mortgage servicing for others – nearly all of which is connected to MBS – was down 6.1 percent.

The regulator said Guarantee – which is in the process of liquidating – paid its LOs, in part, based on the interest rate of the loans they were bringing in.

They called on policymakers to “embrace” nonbanks and address unintended regulatory impacts that are seen as driving banks out of portions of the mortgage market.

FCI’s clients include private money lenders, hedge funds, investment companies and others.

According to exclusive figures compiled by Inside Mortgage Finance, BofA is the second largest player in second liens at $139.1 billion in holdings.

A statement issued by MBA president David Stevens does not comment on the merits of the two cases but blames the CFPB for issuing LO comp rules that are not clear.

Fannie Mae and Freddie Mac issued $74.10 billion of single-family mortgage-backed securities during May, down 8.0 percent from April, a new Inside the GSEs analysis reveals. The purchase-mortgage market picked up some last month, but not enough to offset a sharp 15.7 percent drop in the volume of refinance loans securitized by the GSEs. Purchase-mortgage business was up 7.2 percent from April and reached a combined $28.25 billion – the highest monthly volume since the end of last year’s homebuying season in October. For the first five months of 2015, purchase-mortgage activity totaled $105.15 billion, up 19.0 percent from the same period last year. Most of the big gain in overall GSE business has come from refinancing, which is up 94.4 percent on a...(charts included)

In a move to level the playing field and increase liquidity in the market, Freddie Mac has done away with the $20 fee to use Loan Prospector, the oldest of its suite of lender tools, effective this week. In a letter that went out to Freddie customers last month, the GSE noted it was “eliminating financial barriers to our tools.” Christina Boyle, Freddie’s senior vice president of single-family sales, said since the LP underwriting tool was introduced in 1997 the GSEs have added additional tools, especially within the last couple of years, and plan to introduce more in the future. “The only tool that had a cost associated with it was Loan Prospector and it was sort of a...