First Republic Bank has set its sights on cleaning up its balance sheet and originating loans for sale to the secondary market, which may be easier said than done.

The Mortgage Bankers Association is opposed to the Federal Trade Commission’s plan to ban most noncompete clauses. However, several individual commenters from the mortgage industry favor the proposal.

Mr. Cooper hopes to surpass the $1 trillion mark as a servicer/subservicer, an event that could happen by yearend if it keeps gobbling up portfolios. Meanwhile, there’s plenty of MSRs to buy.

The proposed rule would direct all HUD program participants to proactively take actions to overcome patterns of segregation, promote fair housing choice and eliminate disparities in opportunities, among other issues.

The CFPB issued an advisory opinion to limit foreclosures on “zombie” second mortgages, noting that many would be past the statute of limitations.

CFPB raises concerns about algorithms in the mortgage industry; share of borrowers buying points increased in 2022; recession coming, though home prices won’t go down as much as initially expected.

U.S. Bank surpassed JPMorgan Chase and Wells Fargo in terms of mortgage originations in the first quarter of 2023. Profit margins also seem to be improving.

In what appears to be a response to recent bank failures, Freddie has said servicers are responsible for any losses out of custodial accounts if a depository goes bankrupt.

FHA said the amount of rental income from the accessory dwelling unit used to determine income may not exceed 30% of the total income used to qualify the borrower.

The earlier-than-expected end of the COVID national emergency has brought additional regulatory pressure on mortgage servicers.