And now the obvious questions becomes: where does Ocwen go from here? The company can’t possibly be sold because of all the outstanding lawsuits and “legacy” problems...

The seller of the Alt A servicing portfolio was not identified by name, but IMA described the firm as a “well-capitalized and long standing bank…”

“Maybe we end up in the exact same spot as the last generation, maybe we end up with Corker-Warner,” said Calabria.

The Mortgage Bankers Association is sticking with its proposal to keep Fannie Mae and Freddie Mac alive, but with new charters, while inviting other players to compete with the two giants in the securitization of conventional mortgages. The trade group this week proposed a utility-like model for the re-christened government-sponsored enterprises. They would inherit the personnel and systems the GSEs now have, but become limited-purpose, publicly owned securitization businesses under tight government regulation. Other entities could apply...

The pending issuance will largely be backed by purchase mortgages...

Ocwen added: “The substantive allegations in today’s suit are inaccurate and unfounded.”

Although most of the major non-agency segments posted solid increases, the scratch-and-dent market was the star of the show.

We understand that some surprising names are beginning to show up at auctions for nonprime, non-agency whole loans...

Most of the banks’ non-QMs received that designation due to high debt-to-income ratios.

The problem with the perceived appraiser shortage is not whether VA has enough appraisers but whether there are enough of them in areas where appraisal demands are greater, according to a ranking member of the VA Fee Panel of the Department of Veterans Affairs. As of April 8, 2017, the Fee Panel had 5,006 licensed and certified appraisers working in the eight regional loan centers (RLC) that administer the VA Home Loan Guaranty program, said Kevin Eason, valuation officer with the Denver RLC. Last year, 553 new appraisers were appointed to the panel, whose members accept VA appraisal assignments on a rotating basis. Speaking last week at the annual VA Lenders Conference in Kansas City, MO, Eason noted...