Bexil American Mortgage partnered with a private real estate investment trust to launch a correspondent program. Meanwhile, New Jersey filed a lawsuit against Credit Suisse regarding non-agency mortgage-backed securities issued before the financial crisis.

Flagstar will sell the servicing rights on about half of its portfolio to the real estate investment trust and subservice the loans.

Meanwhile, mortgage insurers are concerned that the new LLPA grid from Fannie and Freddie will throw cold water on their market share gains.

The FHFA MMI is in better shape? So what, says critic Ed Pinto. He believes that huge problems remain.

FHA officials first asked for the servicing authority back in June, but the request has gone nowhere. Fannie Mae and Freddie Mac already have transfer authority.

A BuckleySandler lawyer reached into Zen lore to make his point. “If a tree falls in the forest and no one hears it, does it make a sound?” he asked. Similarly, “Starting in 2014: If a lender complies with ATR/QM but cannot evidence it, has the lender complied?”

It may sound complicated, but it appears that Nationstar is selling a portion of its MSR fee on certain rights so it can deleverage and buy even more servicing.

According to Inside FHA Lending, the top three VA lenders during the first nine months of 2013 were: Wells Fargo, USAA, and Freedom Mortgage.

The Mortgage Bankers Association and other trade groups are hopping mad at FHFA's latest December surprise: higher LLPAs.

Ed DeMarco of FHFA pulls a 'Beyonce' with the higher LLPAs. Meanwhile, we're hearing that Met Watt may be sworn in by early January.