One observer who follows the program had this to say: “It’s nice of them [FHA] to give money away in an election year. It’s not like they need the volume.”

What's going on with the megabanks? The origination market continued to de-consolidate and tilt toward nonbank lenders...

Although some large lender – including Wells Fargo – have quietly killed their MSAs with Realtors, others quietly forge on, keeping a close eye on the PHH case…

Will mortgage lenders continue to cut their rates?

Citadel serviced roughly $375 million of non-prime, non-agency mortgages at yearend, a three-fold increase from the year before...

Meanwhile, servicing income at EverBank fell 26 percent to $26.9 million. Gain-on-sale revenue also fell 26 percent – to $24.7 million.

The House Financial Services Committee also has some unkind words for the Department of Housing and Urban Development and its 7800-plus workers...

Asked why these employees would join his company, the executive said the current owners of his target have become less competitive on pricing and trimmed compensation for loan officers.

In an interview with IMFnews, NAIHP president Marc Savitt said the new forms are confusing and "the three-day waiting period is useless and unnecessary.”

The publicly traded nonbank also will consider donating REO to the city...