Securitization of nonperforming and re-performing mortgages accounted for just over half of total non-agency MBS production in 2014.

Ocwen’s plan to sell roughly $182 billion of agency servicing rights may have gone up in smoke this week after it was revealed that the California Department of Business Oversight could pull its mortgage licenses in the state. One servicing advisor, requesting anonymity, said the nonbank’s latest run-in with regulators “effectively put an illiquid label on all of their servicing rights.” Another advisor suggested...

The layoffs “were in various departments and locations, but the majority of them were in corporate (administrative) departments at our headquarters,” spokesman for the company told IMFnews.

“We’ve seen a huge uptick in FHA streamlines with everyone waiting to order new case numbers,” said company president Eddy Perez.

The FHFA, so far, has declined to provide a budget figure to the general public.

The biggest decline in MI business during the fourth quarter came in loans refinanced through the Home Affordable Refinance Program.

At yearend, Bank of America serviced $693 billion of home mortgages, a 4 percent decline from Sept. 30.

Marc Savitt, president of the National Association of Independent Housing Professionals, pointed to a flaw in the beta version of Rate Checker: it doesn't show the annual percentage rate.

The positive performance, a drop of 14.5 percent, is most likely due to the continued recovery in the overall economy as well as the housing market.

Meanwhile, JPM marked down the asset value of its residential servicing portfolio to $7.436 billion at Dec. 31, 2014, a 10 percent reduction from 3Q14.