Caliber Home Loans, Dallas, this week agreed to buy most of Banc of California’s mortgage operations, the nonbank’s second acquisition of the past seven months, and a possible harbinger of more activity to come. Mortgage M&A consultant Chuck Klein of Mortgage Banking Solutions said his advisory firm is now involved in at least six different deals. Rick Roque of Menlo Financial predicted that by the time this deal-cycle plays out, 20 percent of nonbanks could disappear via a purchase of one sort or another. Klein recently attended...

More defects and fraudulent information were found in mortgage applications in December and January, according to the First American Loan Application Defect Index. Analysts blame the increase on the dwindling share of less risky refinance transactions. January numbers show that the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased 5.8 percent in January compared with December. “This month, the Loan Application Defect Index continued...

Although sales of existing and newly constructed homes were both up in January 2017, a slump in the number of contracts signed for existing homes may be a harbinger of a rough spring market. A low supply of homes on the market, especially in the Midwest and West, caused a lull in pending home sales at the beginning of the year, according to a National Association of Realtor index based on contract signings. The Pending Home Sales Index showed that the number of homes with a contract in January was the lowest it’s been since January 2016. Existing home sale gains (up 3.3 percent in January) showed...

SFIG Executive Director Richard Johns suggested that instead of removing requirements for risk-retention, policymakers could provide capital relief for issuers that retain risk on their securities, rewarding “good behavior.”

How much do LOs working at call centers earn per deal? We heard that some shops pay as little as 15 to 25 basis points...

In late January, Steven Sugarman, who built the bank into a well-regarded regional lender, resigned as CEO.

The number of mortgage-related examinations by the CFPB declined in most areas with one glaring exception: nonbank residential originators…

However, GSE reform will require a bipartisan effort and already other priorities are developing…

PHH argues the plaintiffs lack legal standing to intervene, their motion is “inexcusably untimely,” and it fails to satisfy the requirements for intervention.

As one executive put it: “January was slow, February was lower, and I can’t tell how March will be yet.”