Genworth Financial reported improved first-quarter earnings, Mortgage Guaranty Insurance Co. made some progress on the litigation front while new entrant National Mortgage Insurance went through some highs and lows in the same week. It’s not every day a private MI gets to report a net profit, but Genworth’s U.S. mortgage operation posted $21 million in operating income during the first quarter, following a $32 million loss in the previous quarter. It was the first time in five years that the MI unit reported a profitable quarter. First-quarter results included a $4.5 million charge related to the settlement with the Consumer Financial Protection Bureau announced on April 4. Genworth’s MI losses were...

The Obama administration has sent a message to the mortgage industry that it wants to expand the Home Affordable Refinance Program by changing the eligibility date for high loan-to-value and underwater borrowers who want to refinance loans financed by the government-sponsored enterprises. According to members of the Mortgage Bankers Association who attended a recent pow-wow at the White House, the administration wants to push the eligibility date for HARP into mid-2010 or so. Currently, a mortgage eligible for the program has to have a securitization date prior to June 2009. In theory, this would increase...

Nonbank mortgage servicers continued surging into the top ranks of servicers during early 2013, more than doubling the size of their stake in the market compared to a year ago, according to a new market analysis and ranking by Inside Mortgage Finance. The seven largest nonbank servicers accounted for $1.40 trillion in mortgage servicing at the end of the first quarter, an increase of 68.9 percent in just three months. Compared to a year ago, the combined portfolio of these companies was up 144.3 percent. Ocwen Financial rose...[Includes one data chart]

Despite the nomination of Rep. Mel Watt (D-NC) to head FHFA, certain Democrats want Acting Director Edward DeMarco fired. Now.

The bulk servicing market is showing signs of heating up: IMA has two deals totaling $23 billion in the works.

Skyline Home Loans, a shop controlled by industry veteran Bill Dallas, could double loan originations this year. Roughly 35 percent of its fundings entail purchase money loans.

PHH Mortgage saw its gain-on-sale margin decline but it marked up the value of its MSRs.

In the first quarter nonbanks continued to gain significant market share in the residential servicing business, according to a new and exclusive ranking from Inside Mortgage Finance.

Thanks to its servicing business, Ocwen posted strong earnings in the first quarter but questions have been raised about its gain-on-sale margin.

Redwood Trust isn't the only busy beaver in the jumbo MBS market. Credit Suisse is out with a new deal.