The megabanks still report broker production in their loan sales figures, but most of the activity involves seasoned loans.

Mortgage servicers will be subject to stronger quarterly reporting requirements, including tougher penalties for non-compliance.

Could another former subprime mortgage executive be reentering the game?

Former FHA chief David Stevens said use of the False Claims Act as a “legal sledgehammer will now be tested by one of the highest quality FHA lenders in the nation.”

Grid Financial consultant Paul Hindman is a true believer in brokers as is Mat Ishbia of United Wholesale Mortgage.

Recent actions by the Federal Housing Finance Agency, the government-sponsored enterprises and FHA to make it easier for borrowers to get a mortgage are probably going to be an inconsequential wash overall, according to a panel of industry representatives and policy experts. However, there was some optimism expressed as well. Commenting on last week’s changes from the FHFA on GSE guaranty fees and loan-level price adjustments, Ron Haynie, senior vice president of ...

Most of the slack is being taken up by nonbanks, which serviced $1.571 trillion of agency MBS at March 31.

Quicken Loans this week went where no lender in the mortgage industry has gone before: Suing the U.S. government for suggesting it’s been doing a crappy job of originating FHA loans. Its legal action not only caught most of the industry by surprise, but resulted in loud applause from the Mortgage Bankers Association and K&L Gates partner Larry Platt. A number of major lenders have paid...

DOJ cites an email written by a Quicken divisional vice president for underwriting who brags that the lender has a team that is “responsible to pushback on appraisers questioning their appraised values.”

The Federal Reserve is seen as taking the brunt of nonbank servicer-induced prepayment risk on agency MBS.