With production expenses rising to more than $13,000 per loan, and four straight quarters of negative net income, mortgage lenders struggle to find ways to stay in business.

Texas-based Colonial Savings, which has been offering home loans since its founding in 1952, will stop originating mortgages at the end of July.

PennyMac appeared to gain the most from Wells Fargo's exit from the correspondent market during the first quarter. Slumping refinance business hit the retail channel hard. (Includes six data charts.)

The MBA president castigated the government for its response to the banking crisis, particularly regulator efforts to expand their authority over nonbank sellers and servicers.

At a congressional hearing this week, the FHFA director faced four hours of questioning, including queries on the recently rescinded proposed fee based on a borrower’s DTI ratio.

The company estimated more than 90 million households will meet the income eligibility requirements for the program.

If you’re looking for a sign that mortgage banking has bottomed, take a glance at the debt prices of nonbank lender/servicers. Many are up, though not all. Now, if only interest rates would cooperate.

Conventional-conforming mortgages remain the biggest sector in the originations market, and production was down 12.7% in the first quarter. Meanwhile, ECM lending is getting more attention. (Includes two data charts.)

FHFA is seeking input on the GSEs’ capital framework, which has major ramifications for pricing policies. According to the FHFA, Fannie and Freddie aren’t generating sufficient returns from their single-family business.

A House subcommittee’s hearing this week focused on loan-level price adjustments set for the GSEs. While Republicans raised concerns with recent LLPA changes, Democrats defended the changes.