For the year, the 20 banks earned $3.090 billion from mortgage banking, down 30.5 percent from their income in 2013.

University is based in Hackensack and the purchase gets FFC into the Northern New Jersey market.

Roughly 73 percent of the mortgages in the deal have interest-only terms.

The FHFA proposal, however, could spell trouble for certain nonbank servicers with limited resources.

An official involved in the non-agency MBS market said it’s easier to sell private placements than it is to meet requirements for publicly registered deals

The DBO request for proposal asks that applicants for the Ocwen contract state whether they – or any affiliates – have done any consulting work for the servicer.

On loans with LTVs ranging from 90 percent to 95 percent, for example, GSE pricing was better for all borrowers with credit scores over 620. But things are different now.

Freddie Mac is set to sell a first-loss tranche on a Structured Agency Credit Risk transaction for the first time. The deal priced this week and the $880 million STACR 2015-DN1 is scheduled to settle next week. On previous STACR deals, Freddie has retained a tranche equaling at least the first 30 basis points of loss. Investor demand for the government-sponsored enterprises’ risk-sharing transactions has been strong but some have called for the GSEs to offer first-loss tranches, which can offer higher yields than the tranches that are more buffered from losses. Freddie said...

Wells Fargo was the largest Fannie/Freddie servicer at yearend with $791.0 billion, followed by Chase Home Finance ($429.1 billion) and Bank of America ($260.4 billion).

Ocwen Financial may have to settle with investors in non-agency MBS it services to avoid having the underlying servicing rights being yanked away by a trustee, according to investors and analysts tracking the situation. Early this week, Ocwen attorney Richard Jacobsen sent a letter to the law firm of Gibbs & Bruns, sternly telling the attorneys for some of the RMBS holders that there is no basis for default under the trust agreements. Gibbs & Bruns is working...