Just how brutal will this mortgage correction be? One thing's for certain: loan officers with close ties to Realtors and builders will be golden.

It was the biggest volume of new lending above the conforming loan limit since the second quarter of 2007 – before “emergency” conforming loan limits were authorized by Congress.

When LoanDepot and imortgage.com merge don't expect any layoffs to occur. Meanwhile, speculators are shorting PHH's stock.

The $11.6 billion deal resolved Fannie's long-standing claims that BofA sold the GSE defective mortgages and mishandled various loans it serviced for Fannie between 2000 and 2008.

Significant opposition to lowering the GSE loan limits will come from Realtors, home builders and members of Congress on both sides of the aisle.

The mortgage M&A market is beginning to heat up. Flagstar has auctioned off two large MSR packages, and LoanDepot is merging with another firm.

With Fannie lowering its LTV maximum it will reduce the pool of eligible GSE borrowers and likely shift those loans over to FHA, which means private mortgage insurance firms will lose business.

Cerberus Capital is contemplating purchasing additional mortgage banking firms. Meanwhile, the CFPB doesn't like what it sees in the servicing space when it comes to customer service.

“Three years appears to be an inordinately long period to fully implement the advisory bulletin,” writes the IG of the Federal Housing Finance Agency.

Roughly, 60 percent of real estate loans made by credit unions are sold to Fannie Mae and Freddie Mac, compared to only 44 percent for all financial institutions.