Credit Plus, a provider of credit verification and automated loan file review services, has announced a new software application that will help lenders of agency loans defend against potential losses, indemnifications and repurchase demands. The program, QC Review, enables lenders to run pre-closing quality assurance and post-closing quality-control tests to ensure that loans they originate meet Fannie Mae, Freddie Mac and FHA/VA requirements. QC Review’s comprehensive ...

In fact, nearly a fifth of the repurchases involved loans sold to the GSEs by Lehman Brothers or its related mortgage businesses.

Mortgage lenders continued to work through a huge pile of repurchase demands related to loans securitized by Fannie Mae and Freddie Mac before the housing market crash. The two government-sponsored enterprises reported a total of $1.269 billion of repurchases by sellers during the second quarter of 2014, according to a new analysis by Inside Mortgage Trends, an affiliated newsletter, of Securities and Exchange Commission filings by the two GSEs. That compared to just $522.5 million in repurchases during the first quarter of this year. As has been the case since the buyback issue mushroomed several years ago, most of the second-quarter repurchases focused...[Includes one data chart]

Bank of America blamed the layoffs on “continued reductions” in its legacy mortgage business “as well as actions taken in sales and fulfillment as refinance demand slowed.”

Redwood Trust ranked second in terms of issuance for the third quarter, pricing $636.0 million in jumbo MBS.

Compared to the same quarter a year ago, residential originations fell 40 percent at Wells. At JPM the downdraft was even worse...

Banks were the top nine jumbo lenders, led by Wells Fargo with $41.49 billion in originations, accounting for a healthy 15.8 percent of all jumbo lending.

Specialty servicer Wingspan is expected to issue a press release this week, providing some clarity about a change of control at the company and the future of its founder...

After a rough first quarter in which consumer complaints filed with the CFPB rose by 29.1 percent (mostly because of credit reports), the second and the third quarters have seen double-digit declines, 14.8 percent in 2Q14 and 14.6 percent in 3Q14, according to a new analysis by Inside the CFPB. Of the nine categories of gripes tracked, seven showed declines, all by double digits, with the money transfer sector leading the drop-off, down 28.4 percent from the second quarter. Debt collection criticisms slid 20.5 percent, followed by mortgages (17.6 percent), bank accounts (15.4 percent), student loans (14.5 percent), credit cards (12.1 percent) and credit reports (10.0 percent). The two rough spots were grievances about consumer loans, which were up 28.4 percent [with two exclusive data charts] ...

Analysts at Bank of America Merrill Lynch are predicting a solid fourth quarter for jumbo MBS, enough to bring the total for 2014 up to about $8.0 billion when the year is over.