Has Ocwen CEO Glen Messina finally righted the ship at the nation's 17th largest residential servicer? We'll know in the quarters ahead.

The upfront MIP is 175 bps of the base loan amount on a 30-year fixed-rate FHA single-family loan. Most FHA borrowers pay an annual MIP of 85 bps for the full life of the loan.

On the plus side: revenues at Freddie increased 4.9% from the fourth quarter of last year...

The top three home lenders in the first quarter: Quicken Loans, PennyMac Financial Services and Wells Fargo. UWM and Freedom Mortgage were a close fourth and fifth, respectively.