Better Mortgage has sharply increased its HELOC originations, helped by a self-developed investor marketplace. Meanwhile, WSFS Bank is originating HELOCs on its own after selling a stake in Spring EQ.

Velocity Financial reported an increase in net income quarter-over-quarter, driven by record production.

Cardinal Capital Group and Ellington Financial separately issued their first residential transition loan securitizations.

Cornerstone Financing announced a commitment of up to $1 billion from funds managed by affiliates of Fortress Investment Group.

Joseph Gormley and Frank Cassidy, the individuals nominated to lead Ginnie Mae and FHA, respectively, maintained support for actions taken by the agencies this year in responses to the committee.

The continuing appropriations law included some edits to the partial claim loss-mitigation program under development for VA mortgages.

The U.S. Mortgage Insurers argued the FHA Mutual Mortgage Insurance Fund is vulnerable to a severe economic downturn, and suggested it be held to the same standards as the government-sponsored enterprises.

A lawmaker hinted recently that there’s consideration of moving the U.S. Department of Agriculture’s Rural Housing Service under the Department of Housing and Urban Development’s control, but any move appears to be at a conceptual stage.

FHA waived a policy that required lenders to provide notices to borrowers about various protections, a move the agency said would lighten some of the burden on lenders.

PHH Mortgage agreed to sell servicing rights for HECMs to Finance of America as part of a broader revamp of its strategy.