The privately held Mortgage Master is on track to originate $5 billion this year, all of it through the retail channel.

Non-agency issuers produced $32.16 billion of new commercial MBS, a 40 percent increase from the second quarter.

The new net worth and liquidity requirements and other policy changes announced by Ginnie Mae last week should be viewed in light of the agency’s increased servicer risk stemming from a “new breed” of entities that have entered the market in the wake of the financial crisis, according to analysts. The sharp increase in the share of non-bank servicers has significantly altered Ginnie Mae’s risk exposure to servicer issues, noted analysts at Barclays. “Specifically, the liquidity and capitalization of these non-bank servicers, which are not subject to such requirements for bank servicers, leaves Ginnie Mae exposed to servicing disruptions,” they said. In 2015, Ginnie Mae will adjust...

One veteran mortgage trade group official, a staunch Republican no less, told us that Lawsky is an “honest and bright guy,” adding that he understands the issues.

A federal judge last week dismissed claims brought by the state of Massachusetts that Fannie Mae and Freddie Mac violated state law by putting limits on the sale of pre- and post-foreclosure homes. State Attorney General Martha Coakley filed suit in June against the Federal Housing Finance Agency, as GSE conservator, alleging that Fannie and Freddie are violating state law by refusing to negotiate lower terms for distressed Bay State homeowners.

The share price of Ocwen Financial recently fell to a 52-week low of $18.47, a 70 percent decline that has wiped out at least $5 billion in market equity.

Although most of the mortgage-servicing sales in recent months have been flow transactions of new production, more banks – especially mid-tier institutions – are expected to unload servicing in response to regulatory constraints, according to experts at last week’s Mortgage Bankers Association annual convention in Las Vegas. Many banks continue to focus on capital risk management and serving their core customers, said David Hisey, executive vice president of Nationstar Mortgage, during a panel session on servicing. Many servicing transfers are driven by a desire to deal with one or both of those issues, he added. Most mortgage servicing rights transfers now are...

Ocwen Financial has a huge mismatch between the size of its $400 billion servicing portfolio and its new originations. Then again, its MSRs are running off...

Ocwen chief Bill Erbey noted that the settlement amount might be materially higher and include requirements beyond a monetary penalty.

The SIGTARP said that since the beginning of 2013 it has received complaints from “nearly 100” borrowers regarding issues with servicing transfers, and that 84 of the calls came in 2014.