However, two of the largest home-equity lenders – Bank of America and Chase – both reported modest increases in production during the first quarter, up 3.1 percent and 2.5 percent, respectively.

“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.

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.

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…

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.

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.