Before joining the FHFA in late 2011, Hornsby spent 26 years at the Federal Reserve Bank of San Francisco, the last 10 under Janet Yellen, who is now the nation’s central banker.

Sixth-ranked Freedom Mortgage Corp. bucked the overall trend with a 19 percent increase in TPO deliveries to the agencies.

Redwood Trust officials said its next jumbo MBS likely will be issued late in the second quarter.

“They’re either going to shut their doors, merge or sell out to someone else,” one M&A advisor told Inside Mortgage Finance. “We could see 2,000 firms disappear.”

Of late, nonbanks are showing an increasing interest in buying delinquent loans out of Ginnie Mae pools.

“The first thing we found is that homeowners need to know that they’ve been assigned a trusted advisor who will help them navigate the work out process,” explained one Fannie Mae official.

CSP watchers say the GSE platform is starting to look like an orphan under director Mel Watt. But will Watt mention the project in his first public speech next week?

The transfer of mortgage servicing rights from one owner to another will continue to be a focus for state regulators.

Purchase mortgages accounted for 44.4 percent of California’s first-quarter 2014 production, compared to 52.0 percent nationwide.

Freddie CEO Don Layton warns that staffers “at all levels” would flee the secondary market giant amid the five-year transition period, citing several provisions of the bill that are detrimental to employees.