PennyMac wants out of its servicing platform marriage with vendor Black Knight. As might be expected, lawsuits and nasty allegations are the order of the day. The two have been working together for 10-plus years.

PennyMac Financial is doing so well these days that it decided to declare a dividend to its common shareholders. When’s the last time a nonbank accomplished such a feat? Hard to say.

HPS Investment Partners, a firm chock full of Wall Street veterans, has agreed to buy non-QM lender Citadel Servicing Corp. After the sale closes, CSC founder and CEO Dan Perl will part ways with the firm.

The top five servicers managed a meager 0.5% increase during the third quarter despite big gains at NewRez and PennyMac. Nonbanks overall posted a 4.4% gain, although a handful of them reported declines. (Includes two data charts.)

As the primary market goes, so go the profits of Fannie and Freddie. Both turned in strong results in 3Q19 while announcing improvements in net worth.

Lenders worry that including the language preference question on the URLA might expose them to litigation from non-English-speaking borrowers and slow down the homebuying process.

Earlier in the year, production forecasts were downright glum. But thanks to the never-ending rate rally, 2019 could turn out to be a $2 trillion-plus year for originations.

A New York district court has ruled against Bank of America in a case relating to interest payments on escrow accounts.

The bank had more than 200 violations of a five-year limit for holding REO properties, according to a consent order. Citi was warned repeatedly of the violations before the OCC moved to fine the bank.

The industry is bracing for another round of negative servicing marks tied to MSRs. However, strong origination results for the third quarter should buffer the carnage.