The growing level of student loan debt notwithstanding, the number of complaints about student loans filed by consumers to the CFPB fell by double digits during the fourth quarter of 2015, according to an analysis by Inside the CFPB of information in the CFPB’s consumer complaint database. Overall gripes fell by 31.7 percent from the third quarter to the fourth, the analysis found. The biggest player in this regard, the Sallie Mae spinoff Navient, saw criticisms fall 29.3 percent during the period, as well as by 13.8 percent year over year. This is particularly significant, given the company’s size and market dominance.On a year-over-year basis, overall kvetching rose a modest 2.7 percent, the data show. However, as the chart [with exclusive data chart]...

Wells Fargo Settles with FHA for a Record $1.2 Billion. Wells Fargo, the largest player in the Ginnie Mae market, last week agreed to pay the Department of Justice and Department of Housing and Urban Development $1.2 billion to settle FHA underwriting claims. In a filing with the Securities and Exchange Commission, Wells noted that the agreement “resolves certain civil claims that the federal government had pending” against the lender tied to FHA lending from 2001 to 2010. But it also covers “other potential civil claims relating” to the megabank’s government production in other time periods as well. The megabank, which also is the nation’s largest overall home lender and servicer, saw the settlement coming and booked an additional “legal ...

In the fourth quarter, 20.3 percent of refi loans sold to the GSEs were in the low-score category, the highest level for the year.

In November, Judge Sweeney denied Fannie Mae’s motion to quash or invalidate a subpoena issued by the plaintiff’s counsel…

Ginnie Mae even posted a 5.6 percent increase in refinance loan securitizations...

Colonial National Mortgage was a beta site for the IDR and Allen Maulsby, executive vice president of the bank, said the IDR process is very “legalistic…”

Among those hiring is Jordan Capital Finance, Chicago, which seeks to add new loan reps and a senior vice president of sales and business development...

Laurie Goodman, director of the HFPC, said lenders have “plenty of room to safely ease credit.”

Fannie Mae, Freddie Mac and Ginnie Mae produced a combined $88.96 billion of single-family MBS in January, a modest 1.4 percent decline from December, according to a new ranking and analysis by Inside MBS & ABS. Ginnie production was actually up 7.2 percent from the previous month, while both the government-sponsored enterprises posted declines in new issuance. January’s agency MBS production included...[Includes two data tables]

The outlook for publicly traded real estate investment trusts that invest in agency MBS and related products is starting to improve, in part, because competing investments are looking ugly. That might seem like a small consolation prize for REITs, but several are posting decent earnings, even though the book value of their common stock is relatively weak. Meanwhile, while certain investors shun their stocks, many companies have engaged...