An Iowa-based GSE last week asked a federal court in the state to give “no weight” to a ruling earlier this month by a federal judge who dismissed litigation by other GSE shareholders, including Perry Capital and Fairholme Funds. Continental Western Insurance Co. filed papers in U.S. District Court for the Southern District of Iowa Central Division arguing that Judge Royce Lamberth was “simply wrong” in his interpretation of the Housing and Economic Recovery Act of 2008 and his HERA-based rationale to shut down shareholders’ suits in DC.

Fannie Mae will pay $170 million to certain investors to settle a consolidated class-action lawsuit that alleges the GSE misrepresented its exposure to subprime loans in the run up to the 2008 mortgage crisis.The lead plaintiffs in the case include the Massachusetts Pension Reserves Investment Management Board and State Boston Retirement Board, which represent a class of common stockholders. The Tennessee Consolidated Retirement System represents a class of preferred stockholders.

Wells Fargo's origination market share keeps dropping, but is still more than double that of its closest competitor, JPMorgan Chase.

Once word leaks out that a mortgage company is a takeover target, many LOs start weighing their options, contacting competitors who tried to recruit them in the past.

Roughly a month ago, ClearVision founder Jon Maddox announced his retirement to Pacific Union senior management.

Guild's McGarry also said the company will not be closing on any more transactions in 2014.

Total mortgage complaints have been trending downward since they peaked at 15,239 in the first quarter of 2013.

Another positive for the production market is a new willingness on the part of certain warehouse banks to finance the production of non-QM loans.

With certain exceptions, credit unions invest almost exclusively in agency product, avoiding jumbo securities.

For a bond investor such as PIMCO, the attraction should not come as a total surprise.