After a difficult year so far, sales of mortgage servicing rights are beginning to pick up a head of steam this fall with the hope that the fourth quarter could turn out be a barn-burner. According to interviews conducted by Inside Mortgage Finance this week, servicing advisors for the most part are feeling mildly optimistic about the final three months of the year, although they all admit the obvious: an unexpected drop in rates could spoil the party. But that may not...

The near-zero default rate seen on mortgages originated in recent years combined with lenders’ extensive underwriting processes provide “clear evidence” that lenders should loosen underwriting standards, according to Laurie Goodman, director of the Urban Institute’s Housing Finance Policy Center. Wells Fargo originated more than 2.10 million conventional conforming mortgages between 2011 and the end of the first quarter of 2016. Only 4,082 of them became 60+ days past due in the first 24 months after origination, according to Moody’s Investors Service. Goodman said...

More legal headaches for Ocwen? Looks that way...

Fair housing groups continue to press allegations that Bank of America has neglected foreclosed homes and created eyesores in African-American and Latino communities in more than 200 cities. The National Fair Housing Alliance, along with nine local fair housing organizations, filed an amended federal complaint against BofA last week. In the complaint they added a number of neighborhoods in six additional cities where investigations revealed foreclosed homes that have not been properly maintained. This brings...

For depositories, the data generally show more overall scrutiny from the CFPB as well…

JPM, though, relies heavily on correspondent loan purchases to gather loans while Quicken bills itself as a direct-to-consumer/retail lender.

FBR & Co. raised its estimate on residential loan production for 2016: $1.90 trillion for 2016...

Kingstown is known as a value-oriented hedge fund, with roughly $1.5 billion of assets under management.

IMA’s Piercy noted that deals can get done – as long as the seller is realistic about pricing.

Nonbank mortgage originators continued to feel the heat of scrutiny from the CFPB over the last year, new data show. The number of the bureau’s examinations of non-depository mortgage lenders jumped an eye-popping 220.0 percent as of June 30, 2016, compared with the mid-year mark in 2015, according to data provided exclusively to Inside the CFPB from the agency per a Freedom of Information Act request.Further, in each of the first two quarters of this year, the CFPB examined as many nonbank mortgage originators as it had for the entire second half of last year, the data show. On the other hand, nonbank servicers got a slight reprieve, with CFPB exams falling 66.7 percent year over year (YOY) and ...