A few years back, Better looked like a sure thing: It boasted state-of-the art origination technology. Today, the nonbank is bleeding red ink and dependent on a convertible note held by a Japanese multinational.

Investors are seeing value in the unsecured notes of certain large nonbanks, increasing the ability of these shops to sell new debt. Not all lenders are responding, but new deals could be in the works as long as MSR keep rising in value.

The Financial Stability Oversight Council wants Congress to provide FHFA and Ginnie Mae authority to supervise nonbanks given their growing dominance of the mortgage servicing market.

Another long-time player is exiting warehouse lending. The twist: There’s nothing wrong with Flagstar’s nonbank business. The problem is that the depository is owned by NYCB, which needed an investor-infusion earlier this year.

A consumer advisory board meeting convened this week by the CFPB included an emphasis on issues in the mortgage market.

The Mortgage Bankers Association has called for the creation of a national housing policy director position in the White House.

Some see Freddie Mac’s proposal to acquire second liens as a way to boost originations of the products. Others suggest that GSE involvement in the sector will have minimal impact as demand from borrowers appears to be limited.

With banking regulators considering how to revise their Basel III endgame proposal, the U.S. Mortgage Insurers stressed that regulators should look more favorably on loans with private MI.

A proposal from the Urban Institute calls for a revamp of the refi process to make it more equitable for lower-income borrowers and borrowers of color.

The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.