-The average credit score for purchase mortgages securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter was 722.8, down a few points from the first quarter.

JPM, though, relies heavily on correspondent loan purchases to gather loans while Quicken bills itself as a direct-to-consumer/retail lender.

FBR & Co. raised its estimate on residential loan production for 2016: $1.90 trillion for 2016...

For depositories, the data generally show more overall scrutiny from the CFPB as well…

Almost 53 percent of the loans in the bond are non-qualified mortgages and many of the rest are higher-priced QMs…

One agent noted: “Consumers around the country continue to receive inaccurate information at the closing table about their title insurance costs...”

Only two of the top 10 banks as ranked by “servicing for others” have been in growth mode: PNC Bank and SunTrust.

The American Bankers Association, the Consumer Bankers Association and The Financial Services Roundtable told the CFPB its controversial arbitration proposed rule “is not in the public interest, is not for the protection of consumers, and is not consistent with the CFPB’s March 2015 empirical study of arbitration,” as their attorneys at Ballard Spahr succinctly summarized their joint comment letter. Further, the groups urged the bureau to withdraw its proposal and to refrain from re-issuing another unless it is consistent with the statutory requirements of Section 1028 of the Dodd-Frank Act. “First, the proposed rule is not ‘in the public interest,’ nor does it meet the requirement to provide for consumer protection, because it would inflict serious financial harm on consumers ...

CFPB Proposes Changes to FOIA Procedures, Treatment of Information; Would Expand Disclosure of Confidential Supervisory Information to State AGs. The CFPB has proposed amendments to the procedures used by the public to obtain information from the bureau under the Freedom of Information Act, the Privacy Act of 1974, and in legal proceedings.... Bank of America Close to Fulfilling Settlement Obligations. Bank of America has conditionally fulfilled more than 91 percent of its obligation to provide $7 billion worth of consumer relief under the terms of its historic mortgage settlement agreement with the U.S. Department of Justice and six states, according to Eric Green, the independent monitor of the agreement...

The CFPB recently brought a $4 million enforcement action against Wells Fargo, alleging the bank engaged in illegal private student loan servicing practices that increased costs and unfairly penalized certain student loan borrowers. “Wells Fargo hit borrowers with illegal fees and deprived others of critical information needed to effectively manage their student loan accounts,” said CFPB Director Richard Cordray. The bureau said it identified breakdowns throughout Wells Fargo’s servicing process, such as failing to provide important payment information to consumers, charging consumers illegal fees, and failing to update inaccurate credit report information. One of the CFPB’s charges against the company was that it processed payments in a way that maximized fees for many consumers. “Specifically, if a borrower made a ...