Walter’s reverse business posted a pre-tax loss of $5.3 million in the first quarter but took in total revenue of $22.5 million.

The servicer alleges that “illegitimate time” was billed to the company for hours FIS workers spent “patronizing strip clubs and casinos.”

All Credit Considered Mortgage is offering investment-property mortgages that do not require verification of the borrower’s income or employment.

The banking industry again boosted its holdings of single-family MBS during the first quarter of 2017, although results varied significantly among various major players in the market. Banks and thrifts reported $1.762 trillion in held-to-maturity and available-for-sale MBS as of the end of March, a 1.5 percent increase from the previous quarter, according to a new Inside MBS & ABS ranking and analysis of bank call reports. With Federal Reserve MBS purchases in a holding pattern, banks and other investors are in a better position to increase their holdings as the supply of agency MBS slowly grows. The industry held...[Includes two data tables]

Much of the growth in MBS investments came from two large thrifts: Charles Schwab Bank and E*Trade Bank…

Recent remarks by Craig Phillips, counselor to the secretary of the Treasury Department, suggest that the Trump administration supports proposals to reduce regulatory burdens in the MBS and ABS markets. The agency is in the process of finding regulations that can be “clarified, modified or tailored” to help boost the housing market. “We believe it’s time to assess whether regulatory requirements have unnecessarily tightened the credit box for new originations,” Phillips said at a credit-risk transfer symposium in New York City. “Regulatory requirements have also contributed to increased cost in servicing. Capital and liquidity standards have put private-label securitization at a disadvantage.” The Structured Finance Industry Group noted...

Credit Suisse was a major issuer of post-crisis jumbo MBS, but hasn’t come to market with a jumbo deal since the fourth quarter of 2015.

To assess the effectiveness of the rule in meeting the agency’s goals, the CFPB will examine the impact of major provisions of the measure on a set of consumer outcomes, including mortgage costs…

A Manhattan appeals court raised the burden of proof for Ambac Assurance, which seeks to recover monetary damages from Bank of America in an insurance case involving $1.68 billion in securities backed by high-risk mortgages from now-defunct Countrywide Home Loans. Attorneys with Shepherd Smith Edwards & Kantas said a panel of the Appellate Division, First Judicial Department, ruled that Ambac may not use New York insurance law as the sole basis for arguing that it does not have to prove certain elements of fraud in its claims against BofA. The court also barred Ambac from using the statute to recover damages. The court held...

Fannie Mae and Freddie Mac both announced new re-performing loan sale transactions this month as the two government-sponsored enterprises look for ways to shed illiquid assets. Fannie began marketing its first re-performing loan sale back in November to help reduce its balance sheet. The program continues to gain more traction with each sale. That first sale totaled $789.2 million in unpaid principal balance. Fannie has since announced...