The FHFA noted that if another credit scoring model is introduced, the entire mortgage finance industry will incur increased operation and transition costs…

Washington Federal will increase wages by 5.0 percent for employees earning less than $100,000 a year…

Washington Analysis believes the FHFA/Treasury move is a “clear positive for shareholders in the GSEs, particularly holders of junior preferred shares..."

The correspondent share of jumbo originations has risen in the past year while the retail share declined, according to a new analysis by Inside Nonconforming Markets. The survey found that correspondent production accounted for 18.1 percent of jumbo originations in the third quarter of 2017, up from a 14.3 percent share in the third quarter of 2016. During that time, the retail share of the lenders’ jumbo production fell from 81.3 percent to ... [Includes one data chart]

The number 15th ranked Fairway Independent Mortgage wouldn’t provide a hiring estimate but CEO Steve Jacobson said, “We’re always open minded about opportunities.”

Bill Banfield, EVP of capital markets for Quicken, said he’s noticed an increase in the use of the conventional low-downpayment programs this year….

Movement was founded in 2008 and has grown from four employees to more than 4,300…

Meanwhile, Quicken owner Dan Gilbert recently broke ground on a new skyscraper in downtown Detroit, which will cost roughly $900 million.

Marc Savitt, who runs The Mortgage Center, Martinsburg, WV, called the technology snafu a “big deal,” adding: “It’s taking weeks to receive we got in days.”

Sierra Pacific Mortgage, Folsom, CA, is launching a new builder division...