Fun fact: it was the highest mortgage-related income posted by the banking industry since the second quarter of 2013.

“The most common example is a loan program for self-employed borrowers that relies on bank statements, rather than tax returns, to determine income,” Fitch said.

The U.S. Court of Appeals for the Eighth Circuit this week affirmed rulings from lower courts, noting that the “change in terms” agreement between Lapides and the lender was unenforceable.

Only one servicer among the top 15 – Caliber Home Loans – avoided a decrease in subprime MSRs...

“More people want to take care of their student loan debt before getting into even more [debt] with a mortgage," said Rick Sharga, executive vice president of Auction.com.

Quicken Loans is contributing 17.1 percent of the mortgages to the new jumbo MBS from Credit Suisse.

For the year ending Sept. 30, 2014 MBA took in revenue of $51.9 million versus $39.1 million in expenses for a net profit of $12.7 million.

Although Manhattan Mortgage operated mostly as a loan broker, a press statement from MC Home Loans describes the new company as a “banker.”

If Fannie Mae's origination forecast comes true, just $615 billion in loans will be written from July 1 to Dec. 31, an ugly outlook indeed…

A spokesman for the NYDFS admitted that, “We’re constantly trying to improve our processing times, but we know that we have a lot of work to do..."