At March 31, the Anaheim, CA-based FCI had $4.2 billion of servicing contracts on its books.

The average credit score for purchase loans securitized last month was 749.7, the first time that measure has been below 750 in over two years.

“This is a seminal change,” one GSE observer told us.

“The QM rule needs to stand on its own two feet … The FHFA should not be in charge of setting national mortgage underwriting,” said MBA chief Dave Stevens.

In the first quarter, 11.2 percent of Fannie/Freddie purchase loans had credit scores below 700 and LTV ratios of 81 percent or higher. That was up from 7.4 percent in the fourth quarter…

To significantly reduce credit risk, all mortgages sold to Ginnie 2.0 would require a private credit enhancement attached to the loans…

Ocwen Financial continues to rule the roost in terms of subprime servicing…

PennyMac Financial is a top-10 ranked lender and may soon break into the top-10 in servicing as well…

M&T Bank doesn’t even rank among the top 50 FHA-direct lenders in the nation, according to a recent ranking by affiliate publication Inside FHA/VA Lending...

Fannie Mae’s Economic & Strategic Research Group surveyed senior mortgage executives earlier this year and confirmed that lenders are still facing challenges in complying with the CFPB’s integrated disclosure rule known as TRID, according to new findings released by the government-sponsored enterprise last week. The controversial rule integrates the consumer disclosure requirements under the Truth in Lending Act and the Real Estate Settlement Procedures Act. According to Sheila Teimourian, vice president and deputy counsel at Fannie, more than three-quarters of the lenders surveyed indicated that the two biggest challenges were managing or coordinating with third-party technology vendors and communicating with key players, such as the buyer, seller and loan officer. About eight in 10 of those who cited coordinating with ...