SunTrust Banks started off the new year reliving the pain of the last six years since the financial crisis by revealing it plans to take yet another financial hit – this time, a $145 million legal expense in its fourth quarter results tied to legacy mortgage issues. In a Form 8-K filing with the Securities and Exchange Commission early this week, David Wisniewski, deputy general counsel, said the bank was taking the charge “to increase legal reserves and complete the final resolution of one matter. Accordingly, based on current information, the company expects its estimate of reasonably possible losses related to legal matters, in excess of reserves, to decrease by approximately this amount.” Wisniewski did not specify...

The National Association of Realtors recently estimated that in 2014, nearly 234,000 creditworthy borrowers were priced out of the housing market because of high FHA insurance premiums.

SunTrust wouldn’t comment on the charge other than to note that the issue has been previously disclosed.

In addition to the $36 million judgment against Golden First, Movtady was ordered to pay a $300,000 penalty within six months.

Are recent graduates of business schools avoiding the mortgage industry?

Who knows, maybe Mel Watt will allow Fannie and Freddie to build retained earnings. (Don’t bet on it, but it’s an issue worth debating.)

Okay, so maybe the reintroduction of 97 percent LTV loans is not a game-changer...

The market heated up significantly in 2013 with $152.22 billion of Ginnie MSRs being transferred.

“We tend to look at most everything if it is mainly performing and is 2010 or later vintage agency product," said Pingora CEO Michael Lau.

MBA cites competition from GSEs' new low downpayment programs, Senators point to improvements in the FHA's Mutual Mortgage Insurance Fund.