Over the past six months, many nonbanks have moved to sell MSRs as a way to remain cash flow positive in a tough origination market.

“Under the proposed amendment, lenders who pursue these deceptive practices may receive a safe harbor for these transactions,” the CSBS said.

An early analysis of second quarter loan level data suggests that residential originations were a little better in the April to June time-frame than some might believe. See this website on Thursday for more information…

Bank of America is the mortgage complaint king with 38,098 official gripes filed with the Consumer Financial Protection Bureau.

All of the loans that were not reviewed were originated by First Republic Bank. The rating agencies indicated they are comfortable with the lender’s underwriting process.

Will PHH sell its mortgage division this year? Don't bet on it. But it will spend millions on a company restructuring.

The payment amounts to the borrowers range from several hundred dollars to $125,000, according to the Independent Foreclosure Review audit.

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.