Seven lenders reported net losses during the first three months of 2014, but 12 of the firms showed stronger results than they had in the fourth quarter of 2013.

Taken as a barometer of industry activity, Wells Fargo's prediction is hardly good news for a business that is facing an ugly 40 percent decline in fundings this year.

Apparently, CitiMortgage wants to grow its presence in the origination market, including the correspondent channel where it has a slight pulse.

New York regulator Benjamin Lawsky also questioned the efficiencies touted by nonbank mortgage servicers, countering that “technology alone does not keep a family in its home."

But would Guaranteed Rate ponder a sale? No, said company executive Ted Ahern. “We’re not for sale. We intend to stay that way.”

The Mortgage Bankers Association continues to trim its production forecast for 2014 as the year progresses. Still, some lenders are hopeful and most of them are nonbanks.

The negative results on residential production mean more lenders are relying on servicing rights to carry them through the tough times.

The jumbo MBS market has been extremely weak this year, but a change may be afoot.

So, what’s the biggest impediment to mortgage volumes taking off this spring? According to a new poll from Inside Mortgage Finance, it’s a lack of housing inventory.

Donovan is leaving HUD at a time when housing and mortgage industry advocates are pushing for reductions in FHA premiums.