Correspondent lenders generated 32.1 percent of the home loans securitized by Fannie Mae, Freddie Mac and Ginnie Mae during the second quarter of 2015. More than either other channel, correspondents excelled at finding homebuyer borrowers, 51.9 percent of their second-quarter production, while refinance loans accounted for 56.5 percent of total agency business. Heavy purchase-mortgage volume meant correspondent loans had lower ... [Includes one data chart]

Feeding the MSR growth: credit unions, which increased their holdings of un-securitized home mortgages by 8.2 percent over that period...

The old GMAC servicing platform in Iowa appears to be on a death-watch as Ocwen sells GSE servicing rights and opts for cheaper labor overseas...

For many investors it has boiled down to this: They’ve had enough and they want out.

“It was a great channel for some time, but the competitive landscape is expanding rapidly,” said one executive at the company.

Most of Ocwen’s back-office workers are overseas in India and the Philippines where call center workers make much less than their U.S. counterparts.

Early this year, PIMCO was in talks to buy RoundPoint Mortgage, a top 25-ranked servicer, but the transaction fell apart.

Loan officers, it seems, are more willing to work on agency-eligible mortgages because they know the transactions have a good chance of closing, but non-QMs are a different matter.

Despite the 90 percent estimate offered by Applegate, the government-sponsored enterprises’ use of the CSP – let alone the GSE single security – looks to be a ways off.

Despite strong earnings from the MI sector the past year, regulatory scrutiny remains, particularly in efforts by an NAIC working group to develop risk-based capital standards...