-The average credit score for purchase mortgages securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter was 722.8, down a few points from the first quarter.

JPM, though, relies heavily on correspondent loan purchases to gather loans while Quicken bills itself as a direct-to-consumer/retail lender.

FBR & Co. raised its estimate on residential loan production for 2016: $1.90 trillion for 2016...

For depositories, the data generally show more overall scrutiny from the CFPB as well…

Almost 53 percent of the loans in the bond are non-qualified mortgages and many of the rest are higher-priced QMs…

One agent noted: “Consumers around the country continue to receive inaccurate information at the closing table about their title insurance costs...”

Only two of the top 10 banks as ranked by “servicing for others” have been in growth mode: PNC Bank and SunTrust.

CFPB Proposes Changes to FOIA Procedures, Treatment of Information; Would Expand Disclosure of Confidential Supervisory Information to State AGs. The CFPB has proposed amendments to the procedures used by the public to obtain information from the bureau under the Freedom of Information Act, the Privacy Act of 1974, and in legal proceedings.... Bank of America Close to Fulfilling Settlement Obligations. Bank of America has conditionally fulfilled more than 91 percent of its obligation to provide $7 billion worth of consumer relief under the terms of its historic mortgage settlement agreement with the U.S. Department of Justice and six states, according to Eric Green, the independent monitor of the agreement...

Laurie Maggiano, servicing and secondary markets program manager at the CFPB, appeared at a recent forum on housing finance sponsored by the Urban Institute and CoreLogic and highlighted the most significant changes the bureau has made to its 2013 mortgage servicing rules. She began with requests for clarification that servicers themselves made of the CFPB. “There are clarifications that servicers can indeed enter into short-term repayment plans without collecting a complete application document for consumers,” Maggiano said. Also, there is now more flexibility for servicers to stop collecting documents for a particular loss mitigation option when it is evident the borrower is not a candidate for the option.Additionally, the bureau provides clarification on how servicers select a reasonable deadline ...

The CFPB’s final amendments to its 2013 mortgage servicing regulations will enhance the industry’s practices and benefit the non-agency residential mortgage-backed securities market, according to analysts with Moody’s Investors Service. On the other hand, costs are going to go up, and the brunt of that burden will be borne by smaller servicers. “The new CFPB rules set forth multiple timeline requirements, compliance to which will require servicers to implement several system changes,” the analysts said in a new report. “Such changes will likely result in increased automation of servicing processes that will improve overall efficiencies.” However, implementation costs are going to go up because servicers will have to update their technology and adjust staffing levels to meet the new requirements...