MBA said the average pre-tax production profit was 33 basis points in the first quarter of 2016, compared to an average net production profit of 22 bps in 4Q15.

Joe Garrett of Garrett, McAuley & Co. wonders whether the day is coming when the CFPB will take up residence at some of the nation’s largest nonbank lenders.

Paul Rozo, CEO of Paramount Residential Mortgage Group, Corona, CA, said his shop witnessed a noticeable “uptick” in May and his fingers are crossed regarding the current month.

Better loan grading on the way?

California led all states in VA mortgage securitization with $5.6 billion, 60.8 percent of which were refis.

According to a statement issued by Guild, the acquisition will make the lender/servicer “one of the largest independent mortgage banking companies in Texas.”

Meanwhile, David Lykken of Transformational Mortgage Solutions told us he was the consultant who “got Chad Overhauser in the business and helped him start AmeriPro.” Overhauser is the president of AmeriPro…

The three agencies produced $114.71 billion of new single-family MBS last month, a 5.3 percent increase from April’s volume.

According to figures compiled by Inside Mortgage Finance, Caliber ranks 13th among originators, based on first quarter figures and 17th among servicers.

In California, the average Fannie and Freddie loan was $307,302, in line with the state’s 2015 average of $310,185.