Among our findings, a few things stand out, including the ascension of PennyMac to the number two position among Ginnie Mae issuers.

A recent audit conducted by the Inspector General of the Department of Housing and Urban Development found that servicers earned roughly $428 million over a 19-month period by securitizing modified FHA loans in Ginnie Mae MBS. The way the IG sees it, those profits should go to the FHA’s Mutual Mortgage Insurance Fund, which has been below statutorily required levels for several years. At the very least, the IG wants FHA to reduce the $750 per loan incentive payment the agency provides servicers for loan modifications. “FHA does not have...[Includes one data chart]

According to one deal-maker, after a merger, anywhere between 30 percent to 40 percent of a company’s LOs might choose to leave.

In response, EverBank questioned the accuracy of the IG report.

Fannie Mae and Freddie Mac securitized a total of $183.17 billion of single-family mortgages during the third quarter of 2014, continuing the improving momentum during the previous period, according to a new Inside Mortgage Finance analysis and ranking. Combined mortgage-backed securities issuance for the two government-sponsored enterprises rose 29.1 percent from the second quarter, marking the second straight increase from the record-low levels set during the first three months of 2014. On a year-to-date basis, GSE volume was down 53.6 percent from the first nine months of 2013. Although purchase mortgages continued to provide most of the ammunition for Fannie/Freddie business, the GSEs securitized...[Includes three data charts]

The vast majority of community banks plan to continue to offer mortgages even though increased regulation is limiting business, according to a survey conducted by the Conference of State Bank Supervisors. Rules from the Consumer Financial Protection Bureau remain a primary concern, although many community banks already offer loans outside of the standards for qualified mortgages. “Banks continue to see opportunity in residential mortgage lending but have a mixed view of non-QM lending,” according to the report jointly compiled with the Federal Reserve. “Assessing the ability to repay and QM standards against current exposures, bankers generally identified a low level of nonconformance, suggesting the rules may generally be in line with bank practices while still requiring significant changes in operations.” Some 64 percent of the 884 community banks surveyed said...

So, is now a good time to buy into Fannie Mae and Freddie Mac? It's a game not for the faint of heart.

Quicken Loans once again ranked first among all FHA lenders, out producing Wells Fargo by more than $170 million. No, that's not a misprint.

The handbook is designed to support FHA’s broader goals of expanding access to mortgage credit and making it easier for stakeholders to do business with the agency.

Fannie, Freddie and Ginnie All saw most of their business come from borrowers earning less than $150,000 per year.