Citadel serviced roughly $375 million of non-prime, non-agency mortgages at yearend, a three-fold increase from the year before...

One observer who follows the program had this to say: “It’s nice of them [FHA] to give money away in an election year. It’s not like they need the volume.”

Analysts continue to believe that PHH's shares are undervalued based on “book” price…

With nonbanks fearing they could be stuck with error-laden mortgages that violate the integrated disclosure rule, a secondary market has developed for this new breed of “scratch and dent” loans, according to interviews conducted by Inside Mortgage Finance. One investor, requesting his firm’s name not be identified, said his shop bought such a mortgage for 90 cents on the dollar. Participants in the market – including investors and traders – concede...

The turmoil in financial markets around the world is fueling a flight to safety on the part of investors into U.S. dollar-denominated assets, helping to keep mortgage rates in the U.S. housing market lower than they otherwise would be. But how long that will continue is anyone’s guess. “The recent volatility in worldwide financial markets caused Treasury rates to decline, so we’ve seen that being picked up in mortgage rates,” Danielle Hale, managing director of housing statistics for the National Association of Realtors, told Inside Mortgage Finance. Mike Fratantoni, chief economist at the Mortgage Bankers Association, said...

Not only has BofA reduced its presence in the FHA market, but it keeps dumping its Ginnie Mae servicing rights...

The House Financial Services Committee also has some unkind words for the Department of Housing and Urban Development and its 7800-plus workers...

Mortgages sold and securitized by Flagstar fell 29.4 percent.

Flagstar is the largest depository remaining as a table funder of mortgages through loan brokers...

As a structural matter, the bank is moving the operation from its “securitized products” group to “macro trading.”