The Mortgage Bankers Association is on a mission to convince banking regulators to revisit the Basel III capital standards and to change the cap on how much mortgage servicing rights can count toward Tier I capital. The way things stand now, MSRs will be capped at 10 percent of capital when the rule is fully phased in, with the excess deducted from a depository’s “common equity.” Previously, the cap was 100 percent. In a draft letter to the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency, the MBA argues...

Another refi boomlet? One Long Island-based mortgage executive told us this: “Locks doubled from the day before and are up 30 percent over the previous 10 days”…

Ethos Lending, a QM and non-QM lender, is marketing itself to third-party loan officers as the “broker advocate."

Bonds backed by nonperforming residential mortgages could reach $6 billion this year. But all of the deals are "private."

New York Law School professor Richard Epstein took issue with Judge Lamberth’s ruling that HERA doesn’t take away any “cognizable property rights.”

More clarity on the matter is expected later this month when Ginnie is set to release new guidance at the annual convention of the Mortgage Bankers Association.

Are Fannie Mae and Freddie Mac executives just wage slaves? And is there something wrong with that?

The watchdog arm of Congress noted that the Treasury hasn’t implemented 6 out of 24 recommendations relating to housing programs funded by the Troubled Asset Relief Program.

In other servicing-related auctions, The Prestwick Group is working on three bulk deals and three flow transactions.

Wingspan is a specialty servicer, a space that is looking increasingly crowded these days.