In a letter dispatched to CFPB Director Richard Cordray, MBA stresses that mortgage firms are not being allowed enough time to properly comply with the January 2014 implementation of the bureau’s many new rules.

The Chicago ordinance, which took effect in November 2011, requires mortgage lenders to register vacant properties with the city and pay a $500 registration fee.

Bank of America has once again unloaded a decent-sized chunk of mortgage servicing rights, this time Ginnie Mae product.

Among correspondent buyers of mortgages, SunTrust ranks 10th nationwide, according to half-year 2013 figures compiled by Inside Mortgage Finance.

As reported by IMFnews late last week, Stewart Title is buying Allonhill, a due diligence firm based in Denver. Meanwhile, look for billions of dollars in NPL sales soon.

Mortgage income reported in bank call reports includes earnings from production, loan sales and net servicing results, so industry profits are not tied exclusively to new lending.

Radian has already paid $632 million to cover loss claims on the Freddie Mac loans through two different payments. It also had set aside $205 million in a collateral account to cover loss mitigation activity.

DataQuick believes property valuation is key to portfolio stability because lending is no longer just a credit decision anymore.

Joel Tillett and five other former employees were indicted in May on federal charges they conspired to defraud mortgage lenders by submitting loan applications that contained false information.

Many mortgage firms are hoping that a huge surge in purchase-money deals will compensate greatly for the declining refi market and that layoffs at their shops will be avoided.