The CEO also noted that the Great Neck, NY-based company has a $7 million warehouse line of credit with Sterling Bank. “That’s an achievement,” he said.

“I don’t see how New York can’t ultimately approve Wells’ sale of servicing to Ocwen,” said one analyst. “I think it’s more a matter of when.”

A formal recorded vote has been requested and at press time was pending before the committee.

Surprise: Two Harbors is preparing a new jumbo MBS deal. It looks like the bond will be issued in early August...

Although only one of the 21 banks (BB&T) posted a net loss on mortgage banking during the second quarter, seven others reported lower profits than they had in the first quarter.

In mid-July senior White House staff, Treasury officials and the staffers from the Council of Economic Advisers met with representatives from a number of industry trade groups to discuss housing finance reform.

"There are plenty of small deals out there," said one mortgage analyst, "but no big ones."

One stock analyst told IMFnews: “He hasn’t charged them [Nationstar] because he [Lawksy] doesn’t have anything.”

RPM Mortgage, one of the largest privately held nonbanks in California, has signed a new origination deal with Mechanics Bank, Walnut Creek, CA.

A Fannie Mae real estate-owned contractor engaged in a “clear pattern” of neglecting Fannie-owned vacant foreclosed homes in black and latino neighborhoods compared to white neighborhoods in four different cities, according to a discrimination complaint filed with the Department of Housing and Urban Development this week. The National Fair Housing Alliance and two partners allege that Brandon, FL-based Cyprexx Services violated the federal Fair Housing Act by neglecting minority-owned Fannie REOs.