Real Estate Mortgage Network is on the verge of launching a new correspondent division what will use the trade name HomeBridge, a company official told Inside Mortgage Finance.

What We’re Hearing Certain mortgage bankers are using a four-letter word to describe the trifecta of “final” regulations unveiled by the CFPB the past two weeks, and as you might guess that word isn’t “love.” The rules – servicing, qualified mortgages and loan originator compensation – will shape the industry for years to come... plus other mortgage industry happenings.

Ocwen Financial Corp. is meeting with its investment bankers on Wall Street today about a proposed senior credit facility that will help the nonbank continue to grow at a brisk pace.

Mortgage firms that handle 5,000 or fewer loans will receive a significant exemption from servicing rules released today by the Consumer Financial Protection Bureau

Citigroup has joined the club of megabanks marking up the asset value of their mortgage servicing rights. Shares of Genworth spiked, and other mortgage news briefs.

The Consumer Financial Protection Bureau issued its final rules on residential servicing practices early Thursday morning, cracking down on dual tracking, and telling the industry it cannot engage in a foreclosure sale until “all other alternatives” are considered.

In a few weeks the White House will release its new budget and there’s increasing speculation that it will ask for $3 billion to $5 billion for the beleaguered FHA Mutual Mortgage Insurance Fund…

The federal judge in charge of overseeing multiple lawsuits filed by the Federal Housing Finance Agency against non-agency mortgage-backed securities issuers for misrepresenting deals that were sold to Fannie Mae and Freddie Mac rebuffed yet another motion by one of the banks to shut down the legal action.

National MI, the Emeryville, CA-based mortgage insurer started by former executives at The PMI Group, has yet to write its first policy, but may soon.

Arch Bay Capital, once one of the most active buyers of nonperforming residential loans, has sold most of its NPL portfolio and launched a company that will originate non-agency mortgages, according to industry officials who have been briefed on its plans.