Worried that New York State regulators will throw a monkey-wrench into Ocwen’s mortgage servicing acquisition plans? Don’t be.

Still, purchase-mortgage originations fell sharply in the fourth quarter, dropping almost 23 percent from the previous period, according to figures compiled by Inside Mortgage Finance.

The FHFA permitted Fannie Mae to continue without the ability to assess repurchase late fees because the GSE claimed the cost of setting up such a program could cost $5.4 million

Fed chairman Janet Yellen told legislators: “I think it is really very important for Congress to put in place a new system to address GSE reform. I think we still have a system that has systemic risk."

The entire group is moving to the Connecticut-based nonbank from a company called Mortgage Services, a subsidiary of First State Bank of Mendota, IL.

Some analysts believe the $200 billion estimate on flow MSR transactions might be a bit low.

Also, Morgan Stanley recently increased its stake in Arch Capital Group to 6.3 percent. Arch owns CMG Mortgage Insurance, which is being renamed Arch Mortgage Insurance Company.

However, ARMs remain relatively rare in the MBS market. Fannie Mae, Freddie Mac and Ginnie Mae securitized only $41.6 billion of ARMs for all of last year, about 2.7 percent of their total MBS production volume.

A nonbank wholesaler, Carrington is allowing credit scores as low as 580 for FHA and USDA mortgages, along with some VA loans.

The new ownership filing on Walter Investment comes at a time when short interest in nonbank mortgage firms is increasing.