With just $1 trillion in originations expected this year, lenders and servicers are trimming their payrolls accordingly.

Will loan production in the second half surprise the naysayers? Will non-QM lending take off? Stay tuned...

The most encouraging sign is that agency volume has been gaining pace. Production increased by 11.4 percent from May to June, with $76.48 billion in gross issuance.

Investors that have bought stock – and debt instruments – in the MIs are anxious about the phase-in period for the capital standards.

Avalos’ resolution targets approximately 300 underwater private-label security loans that were made on homes “particularly concentrated in San Francisco’s historically black, Latino and Asian working class communities.”

As for the two banks working on jumbo securities, both have not issued any bonds in recent years but “are getting their securitization machines ready,” said one jumbo executive.

York Capital is backing Walter Capital Opportunity Corp., the buyer of the excess MSRs.

As of May, only three of the loans were 30-days delinquent, with the other once-delinquent mortgages having returned to current status or paid off.

Consumer complaints to the CFPB continued their quarter-by-quarter rise and fall, but one strong message from second quarter data is that financial services providers of all types saw a big improvement in the sheer volume of gripes, a new analysis by Inside the CFPB found. Overall, criticisms fell by 14.8 percent in the second quarter compared to the first quarter. Of the eight categories of consumer criticisms we track, seven saw double-digit improvements in 2Q14, ranging from an 11.3 percent drop related to bank accounts, to an 18.5 percent fall having to do with home mortgages. The sole category that saw an increase in the period ended June 30, 2014, was money transfers, which saw a rise of a scant [with 3 charts] ...

The CFPB got a public relations black eye last week when its Inspector General issued a report finding that renovation costs for the bureau’s headquarters in Washington, DC, now stand at a projected $215.8 million – $160.8 million more than the original estimate. “These estimated all-in costs include the $145.1 million obligated for construction, construction management, and General Services Administration fees, as well as $70.7 million for other items including A/E [architectural/engineering] services, rent for swing space, costs associated with moving, and additional renovation-related expenses,” the IG noted. According to the IG, the CFPB has formalized policies for budgeting and funding, as well as for approving major investments prior to obligating funds. “However, we noted that the approval of funding for ...