Written bids are due by Wednesday, Aug. 27 with the closing coming by the end of October. LoanCare is listed as the subservicer.

SIFMA said the FHFA should view g-fees not as “static amounts,” but rather as compensation for credit enhancements that may vary from time to time.

Mortgage advisors at Sindeo are paid a flat fee for every mortgage closed. Bonuses are based on customer satisfaction.

A fair question to ask is this: If DOJ goes after Mozilo, why not go after the owners of Ameriquest/Argent which created so much of the faulty subprime product that Greenwich securitized?

Currently, residential lenders only have to report information on a closed-end reverse mortgage if the transaction involves a home purchase, home improvement or refinancing.

Another concern was that out-of-state call center lenders might not know the local lending laws, which can result in delayed closings.

The average loan officer makes a $4,000 commission on each reach reverse mortgage they originate. Really?

Among the banks reporting that the rules had no effect on their approval rates, half indicated that lending policies would have been tighter without the safe harbor for mortgages that pass the GSEs’ automated underwriting models.

In its statement announcing the settlement, BofA stressed, “The claims relate primarily to conduct that occurred at Countrywide and Merrill Lynch prior to Bank of America's acquisition of those entities.”

Most servicing advisors – and stock analysts – continue to believe Ocwen will complete the Wells deal, probably sometime this fall. “Who else is willing to buy it?” said one source.