Seven lenders reported net losses during the first three months of 2014, but 12 of the firms showed stronger results than they had in the fourth quarter of 2013.

Taken as a barometer of industry activity, Wells Fargo's prediction is hardly good news for a business that is facing an ugly 40 percent decline in fundings this year.

The Nationstar spokesman noted that Rodgers’ production duties were assumed by Chad Patton, a senior executive for business development at the nonbank lender.

It appears that CashCall is getting closer to finalizing a deal to sell some of its production assets to the publicly traded Stonegate Mortgage.

Loan modifications that reduce principal and interest payments by at least 10 percent perform significantly better than other mods, according to the Office of the Comptroller of the Currency.

New York regulator Benjamin Lawsky also questioned the efficiencies touted by nonbank mortgage servicers, countering that “technology alone does not keep a family in its home."

But would Guaranteed Rate ponder a sale? No, said company executive Ted Ahern. “We’re not for sale. We intend to stay that way.”

Apparently, CitiMortgage wants to grow its presence in the origination market, including the correspondent channel where it has a slight pulse.

Donovan is leaving HUD at a time when housing and mortgage industry advocates are pushing for reductions in FHA premiums.

Meanwhile, industry sources said Select Portfolio Servicing is working on a large MSR acquisition, which could transfer shortly.