In less than 10 months, a volume-heavy private-label origination deal that PHH Mortgage has with Wall Street giant Merrill Lynch is set to expire, potentially blowing a hole in its production machine. According to a recent filing with the Securities and Exchange Commission, PHH acknowledges that “there can be no assurances that the agreement will be renewed on favorable terms, if at all.” If the deal were to be cancelled, PHH could see...

The most aggressive bidders for high-performing mortgage loan officers are nonbanks, which have been steadily stealing market share away from the megabanks...

The nation’s top consumer regulator told lawmakers the bureau has already provided an extended implementation period of 21 months...

The researchers said their data included seven of the 10 largest servicers based on market share.

“If something goes wrong, Ocwen will be on the hook,” said this source. “But it’s really clean stuff.”

Although George Ellison’s salary was not disclosed in the press release announcing his employment with the company, a subsequent filing provided details: $450,000 per year, another $450,000 in incentive bonuses...

Ginnie is currently managing TBW’s FHA portfolio and hopes to sell its Ginnie servicing rights sometime this year.

Bank of America was among the few major depositories that reported a loss in mortgage-banking income, losing $253 million in the fourth quarter.

With little non-agency MBS issuance, Collingwood noted that it’s difficult to accurately price credit risk.

The identity of the bank could not be confirmed at press time...