With rates rising (and staying that way, for now) mortgage M&A is expected to pick up steam in the coming months...

But if you think that Wells Fargo will pull a “BofA” and quietly downshift its presence in mortgages, think again.

In the third quarter, the top FHA rehab were Prospect Mortgage, Movement Mortgage and Wells Fargo.

The index estimates the level of defects detected in loan applications processed by the First American FraudGuard system.

DOJ notes that although the lender’s internal quality control reviews “showed severe problems with FHA insured mortgages, USFS routinely failed to provide any meaningful information to senior management…”

The new MBS is backed by 4,274 mortgages that have seasoned for an average of 10.6 years.

Tim Howard, a former Fannie Mae CFO, called Mnuchin’s comments “a welcome reset…”

The leading cause of adverse findings was incomplete or missing loan documents...

New Residential is entitled to a $10 million termination fee if the sale falls apart...

Wells Fargo, for example, reported that 90.7 percent of its third-quarter jumbo originations came through the retail channel…