It was thought that with the Consumer Financial Protection Bureau working on a new regulation to clarify key portions of the TRID integrated-disclosure rule and assignee liability that the scratch-and-dent market in TRID-defective loans would grind to a halt. But that’s not how it’s turned out. According to investors in “S&D” TRID mortgages and traders who play in the space, auctions of mortgages with errors (of all sorts) have continued...

Investors who are suing the government over the terms of the conservatorships of Fannie Mae and Freddie Mac said the 53 documents recently made public solidify their claim that the government-sponsored enterprises had plenty of capital and a government bailout was unnecessary. The Treasury Department provided the documents to plaintiffs last week as part of a court case in Kentucky. “The newly de-designated documents also suggest...

A heated partisan debate broke out during a House subcommittee hearing late last week on whether multi-billion dollar settlements designed to resolve legacy MBS cases undermine Congress’ power to appropriate funds. Democrats and Republicans on the House Financial Services Subcommittee on Oversight and Investigations debated whether federal law allows banks to donate money to third-party charities to fulfill some of its settlement obligations. Ranking Minority member Al Green, D-TX, said...

Wells Fargo reported an 11.7 percent increase in its conventional-conforming originations during the first quarter, but the company’s GSE loan sales fell 12.2 percent on a sequential basis – quite a differential.

The Texas portion of the receivables has been measured at 60.5 percent with Colorado a distant second at 13.6 percent.

Let's face it: most banks are just chicken to hold mortgages in portfolio unless they're jumbos...

The HLTV loans will be sold to Fannie Mae mostly, but Freddie Mac will play a role as well...

Redwood indicated the income from the new jumbo MBS will be lower than income received through whole-loan sales...

Mortgage brokers grabbed a slightly bigger share of the originations market in the first quarter of 2016, according to a new Inside Mortgage Finance ranking and analysis. Mortgage brokers generated an estimated $38 billion of new home loans during the first quarter, a modest 2.7 percent increase from the previous period. Meanwhile, correspondent production declined by 0.8 percent to an estimated $122 billion and retail originations weakened by 2.2 percent. There appeared...[Includes four data tables]

“The banks’ sweet spot is with super prime,” said Marty Hughes, Redwood’s CEO…