African-American and Hispanic Borrowers Allegedly Harmed by Provident Will Receive $9 Million in Compensation. Last week, Garden City Group, the settlement administrator for Provident Funding Associates, mailed out checks to African-American and Hispanic borrowers to compensate them for having been unlawfully charged higher interest or broker fees on their mortgages from Provident.... Ocwen Enters Into Agreement with Hawaii to Resolve Regulatory Action. Ocwen Financial settled some outstanding issues with regulatory authorities in Hawaii last week, continuing a streak the nonbank servicer has been on for the last two months or so....

The Office of Special Counsel found no evidence that the CFPB's Richard Cordray violated the Hatch Act.

Interestingly, Nationstar, Ocwen and Walter each have embarked on a course of selling their owned mortgage-servicing rights while staying on as a subservicer…

PennyMac estimates by entering the broker space it will gain access to additional 10 percent of the $1.7 trillion loan market.

PennyMac (the REIT) said third quarter results were also affected by the reduced earnings contribution from "our credit risk transfer investments..."

But while Fannie production slumped 11.5 percent, Freddie saw a robust 23.9 percent jump in new issuance in October…

New issuance of agency single-family MBS in October was almost even with the previous month, but there was a sharp swing of market share between the two government-sponsored enterprises, according to a new Inside MBS & ABS ranking and analysis. Total new MBS issuance by Fannie Mae, Freddie Mac and Ginnie Mae came to $113.99 billion last month, a modest 0.5 percent decline from September. But while Fannie production slumped 11.5 percent, Freddie ... [Includes two data charts]

Although it’s still unclear when the Treasury Department will release its blueprint for resolving the epic conservatorships of Fannie Mae and Freddie Mac and reforming the housing-finance system, industry officials are sifting through the Trump administration’s tea leaves. One source who claims to be familiar with Treasury’s thinking on the matter said a consensus is developing around a model where the government-sponsored enterprises re-emerge as “utilities” with little or ...

The news at the Federal Reserve this week can best be summarized by the term “status quo.” The U.S. central bank held interest rates unchanged, its plan to gradually unwind its massive portfolio continues unchanged, and President Trump nominated Fed governor Jerome Powell to succeed Janet Yellen, likely ensuring more of the same when it comes to the future of both interest rates and the balance sheet. When it came to rates, the Federal Reserve’s Open Market Committee ...

Tesla Energy is preparing to issue a $344.0 million ABS backed by proceeds from solar-power generating systems on residential properties. The planned TES 2017-1, LLC, Series 2017-1 received an A- rating from Kroll Bond Rating Agency last week. The transaction is secured by proceeds on a portfolio of 33,499 leases and power-purchase agreements associated with solar photovoltaic systems. The leases and PPAs were originated by SolarCity, which does business under ...