As one jumbo participant put it: “More is good.” Redwood Trust also is working on a deal, industry officials said.

The terms of the settlement include $500 million in consumer relief and a cash payment of $468 million.

“Right now there’s a large discrepancy between what the buyer wants to pay and what the seller wants to sell at,” said Chuck Klein, managing partner in Mortgage Banking Solutions.

One competitor to Prospect described Mike Williams as a “great technical guy.” He added that having Prospect go public is “the next step” in Sterling’s exit strategy.”

Norcom wants its wholesale account executives to be in the office, not traveling the roads.

Analysts point out that bank earnings have suffered less than revenues, and many institutions responded quickly by downsizing their mortgage operations, although these cost-cutting efforts won’t show up in expenses immediately.

Bettenburg earned a base salary plus bonuses of roughly $781,742, according to the S-1 statement.

“Sadly, the impact of QMs [qualified mortgages] will never been quantified since most LOs will not originate borderline loans,” said New Jersey broker Brian Benjamin.

At the FHFA, Singh was involved in strategic planning to help attract private capital to the mortgage industry, a key goal of former Acting Director Edward DeMarco…

The number of mortgage companies in California rose 7.8 percent on a sequential basis. Nationwide, there are 392,896 federally registered mortgage loan officers…