First Mortgage Corp., Ontario, CA, this month completed its liquidation, selling its branch network and $6 billion of servicing rights to other firms, and winding down a 44-year-old business that catered to FHA borrowers with lower credit scores. Jean Ziroli-Kobielsky, a recruiter for the family-owned business, noted that it wasn’t fear of regulatory oversight that prompted her father and brother to sell FMC, it was technology: “Some of our technology systems were still using DOS,” she told Inside Mortgage Finance. (DOS, or disk operating system, was the precursor to the Microsoft Windows software line for PCs.) She said...

There was some good news from Ocwen: the company earned $44.2 million from servicing sales...

Of the 21,100 complaints submitted by consumers in the region, 27 percent have been related to mortgages.

Although the FHFA received more than 1,300 comments on proposed changes to its membership rules, it has yet to issue a final regulation.

In addition to alternative credit scoring models and low downpayment products, panelists suggested more public/private partnerships are needed to create affordable housing communities.

The privately held Guild Mortgage, San Diego, said it funded $10.7 billion in home mortgages through the first nine months of 2015...

As the head of the NAIHP, Savitt has been a frequent critic of the Consumer Financial Protection Bureau...

In other GSE news, the Senate version of legislation to cap CEO salaries at Fannie and Freddie is moving along and a vote could happen this week…

The CSP joint venture is staffed and “no longer living like poor cousins” at the GSEs themselves.

When the CFPB assumed RESPA enforcement from HUD in July 2011, it pledged to apply its predecessor’s official commentary, guidance and policy statements until further notice, the brief argues.