While states offered broad temporary flexibilities regarding LO licensing and location requirements during the pandemic, the transition out of the temporary standards has been bumpy.

Steeply lower production volumes call for new lending ideas. Right? Some A-paper shops are jumping into the non-QM pool. Will it save the day or result in higher delinquencies?

Fannie joins Freddie in accepting attorney title opinion letters instead of title insurance. Industry observers said the new option will mostly impact refinances, not purchases.

So far, among public companies, Mr. Cooper CEO Jay Bray was the top mortgage earner in 2021 but many lenders have yet to file proxy statements. Meanwhile, MBA trimmed its production forecast.

Rocket Mortgage, PennyMac and United Wholesale Mortgage ranked as the top three lenders in 2021, the first time three nonbanks led the league table since Inside Mortgage Finance began annual rankings. (Includes two data charts.)

Although Fannie Mae and Freddie Mac are animals of the secondary market, the FHFA director said they have programs that can increase the amount of housing available.

With home-equity lending suppressed due to tight underwriting standards, nonbanks are finding some success in equity-sharing agreements. The risk: The products may be classified as loans.

When the going gets tough in mortgages, the tough retire. Then again, they can afford to, having made so much money the past two years. But who might replace all those graying CEOs?

In a refinancing scheme involving some 2,500 units, Seth Levine defrauded lenders and investors out of $60 million.

A year of transition? Tough times require action on the part of mortgage CEOs. Some shops are adding new products and branch networks. Others are pulling the layoff lever.