At press time, there were reports circulating that one mid-sized nonbank planning to enter the correspondent acquisition market had pulled the plug and laid off staff. The firm is expected to talk to IMFnews Thursday morning.

Mortgage professionals should hang onto their hats. Loan production could plunge by 32 percent in 2014.

“The president believes that Rep. Watt is the very best person to lead the agency at this important time for the housing market and our economy, and that having a confirmed FHFA director in place will help promote certainty for the housing industry,” said a White House spokesman.

Once again, the MSR market is heating up. Sources say a REIT may purchase receivables being offered by Flagstar Bancop.

Mortgage credit is not easing. Meanwhile: Why did the heads of the CFPB and FHFA cut and run at the MBA show?

A year ago, mortgage servicing brokers were seeing five or fewer bidders on bulk offerings. Today, 10 or more bidders show up, many of which are nonbanks or have owners that are hedge funds or private-equity firms.

A total of $33.16 billion of commercial MBS – including agency MBS backed by multifamily mortgages – were issued during the third quarter of 2013, a new Inside MBS & ABS analysis reveals.

Legislative sources say the partial government shutdown did not significantly impede the Senate Banking Committee’s work toward finding a solution to Fannie Mae and Freddie Mac.

The refrain from bank management was virtually unanimous: mortgage production dropped significantly and gain-on-sale margins narrowed. Although mortgage servicing right values continued to climb, that doesn’t always translate into improved earnings on that side of the business.

Garth Graham, head of Stratmor Group’s marketing strategy and execution practice, said lenders should use the leads and data they already have.