Just how hot is the jumbo MBS market? Consider this: Some $3.95 billion in non-agency jumbo MBS was issued in the first quarter, compared with $3.46 billion in issuance in all of last year.

U.S. Bank, one of the largest residential lenders and servicers in the nation, has a new president.

Steve Stein, national sales director, has departed Green Tree Servicing, but the company isn't returning telephone calls and emails about the matter.

The Conference of State Bank Supervisors is calling upon the Consumer Financial Protection Bureau to adopt a petition process to define “rural” counties as the bureau prepares to implement balloon “qualified mortgage” and escrow requirements for rural creditors. The Dodd-Frank Wall Street Reform and Consumer Protection Act confers QM benefits on certain balloon loans if they are made in rural or underserved areas. In implementing the standard, the CFPB decided to use the USDA Economic Research Service’s Urban Influence Codes as...

The CFPB went “live” with a significantly expanded consumer complaint database late last month, featuring a wealth of new data on problems consumers have with credit cards, mortgages, student loans, bank accounts, services and other consumer loans. The CFPB characterizes it as “the nation’s largest public database of federal consumer financial complaints, opening up to consumers information on more than 90,000 individual complaints on financial products and services.” CFPB Director Richard Cordray said, “By sharing these...

According to the government, Golden First Mortgage Corp. of Great Neck, NY, failed to carry out its duties and responsibilities as a direct endorsement lender, leaving FHA with large losses.

Will FHA need a government bailout? Better read the new Obama budget document.

CFPB’s crosshairs, the bureau revealed week as it announced enforcement actions against four private mortgage insurers over the industry’s use of captive reinsurance arrangements, and fining the companies relatively small amounts. These units have been in runoff mode for several years, as captive re withered after the market collapse. “[I]n every kickback situation, there is somebody paying and somebody receiving. It takes two to tango,” said CFPB Director of Enforcement Kent Marcus. “Today, we’re dealing with those paying...

Bank of America is once again offering for sale a large package of mortgage servicing rights and at least a half-dozen or so buyers are lining up to bid.

After losing an appeal, the UBS MBS case brought by the Federal Housing Finance Agency is set for trial early next year.