Upon Cordray’s announcement, Rep. Hensarling declared: “We are long overdue for new leadership at the CFPB, a rogue agency that has done more to hurt consumers than help them…”

Today, just three depositories remain among the top 25 HECM lenders: First Bank (ranked 16th at mid-year), The Federal Savings Bank (19th) and Quontic Bank, FSB (21st).

PIMCO also has been buying non-agency mortgages, holding the paper in one of the funds it manages.

However, a source familiar with the matter stressed that the GSE is merely considering a construction-to-perm product and nothing more.

Keep in mind, that one of the first things HUD did under Trump was to kill a planned MIP reduction...

The common thread in both cases is that Ocwen and PHH similarly assert that the CFPB’s structure is unconstitutional.

Maybe a REIT is the way to go in nonprime...

You might say that Wilbur Ross got out of Ocwen while the getting was good...

Walter CEO Tony Renzi: “Our operating performance is improving in many areas, and we are continuing our financial restructuring efforts…"

Correspondent-based lending operations are accounting for a growing share of the FHA and VA home loans pooled in Ginnie Mae mortgage-backed securities, according to a new analysis and ranking by Inside FHA/VA Lending. In fact, correspondent originations are the only production channel to see year-over-year growth in FHA and VA business through the first nine months of 2017. Retail and wholesale-broker production is down for both FHA and VA loans. Correspondent programs are most dominant in the FHA market, perhaps reflecting a preference among large producers to have recourse to a primary-market lender if the government later finds defects in how the loan was originated. Correspondents accounted for 48.7 percent of FHA loans pooled in Ginnie MBS during the first nine months of the year, up from 43.1 percent in all of 2016. Volume was up 1.7 percent from the ... [Charts]