According to figures compiled by Inside Mortgage Finance, Caliber ranks 13th among originators, based on first quarter figures and 17th among servicers.

The letter is meant to counteract correspondence sent earlier in the week to Watt from 10 trade organizations and community groups that want the GSEs to build capital...

The upcoming batch of non-agency interest-only mortgages that will hit a 10-year recast is larger than the IO recast volume seen last year, according to Moody’s Investors Service. However, the rating service predicts that a spike in default rates prompted by the recasts will be less severe than that of 2015. “Default rates will likely stay below those of Alt A IO loans in non-agency mortgage-backed securities which re-cast to full payment in 2015 because of a slightly smaller expected ...

New Day USA, an exclusive VA lender, is building up its purchase mortgage-lending platform to help grow its VA business by the end of 2018, according to the firm’s top financial adviser.Based in Fulton, MD, New Day is developing its purchase-lending capability to help grow its overall VA business by 20 to 25 percent annually, said Joseph Murin, New Day’s chairman emeritus. “We’re growing slowly,” he said. “We’d rather walk before we run.” An approved VA lender, New Day’s focus has been almost entirely on cash-out refinancing. New Day currently ranks 21st among Ginnie Mae VA sellers for the first quarter of 2016, according to Inside FHA/VA Lending’s database. The company closed the first quarter with $463.1 million in VA loans, up 22.8 percent from 4Q15 and up a whopping 87.6 percent on a year-over-year basis. “We are spending a lot of time developing and understanding the ...

Eleven lenders paid a total of $152.1 million in civil penalties and settlements while three others lost their FHA approval for various violations of FHA requirements, according to the Mortgagee Review Board’s latest report on administrative actions taken against FHA-approved lenders. As required by the Department of Housing and Urban Development, the report summarizes the disciplinary actions imposed by the board on FHA lenders from Oct. 1, 2014, to Sept. 30, 2015. These actions include $151.7 million in settlements and $370,119 in civil money penalties, withdrawals of FHA approval, suspensions, probations and reprimands. Allied First Bank of Oswego, IL, agreed to pay a $17,000 civil money penalty for improper use of FHA’s name in certain correspondence and for failure to notify HUD of a consent order entered into by the bank and federal and state banking regulators. The MRB voted to ...

Fannie Mae said the result is that potential buyers may be wrongly disqualifying themselves before they even apply for a mortgage…

Mortgage servicers appeared to have received some protections in November when amendments to the Telephone Consumer Protection Act were signed into law. However, the rule proposed by the Federal Communications Commission to implement the amendments contravenes the law, according to one FCC commissioner. The TCPA allows for one errant call to a cell phone number that hasn’t provided consent before liabilities under the law are triggered. The Bipartisan Budget Act of 2015 amended...

Two of the deals offer a range of $50 million to $100 million per month in GSE servicing rights and have a bid deadline of early next week.

The banking industry sold $145.3 billion of home mortgages during the first quarter, a 5.1 percent decline from the previous period.

Many cite compliance spending, in particular the hiring of attorneys, for the increase in costs.