In May, Sen. Bill Nelson, D-FL, flagged the disturbing consumer credit reporting practice of lumping a short sale within the same industry code as a foreclosure in consumer credit reports.

The collateral backing the new Redwood bond is exclusively 30-year fixed-rate loans without interest-only terms.

FHA is seeing its cash reserves increase more than expected. Meanwhile, yet another mortgage vendor is laying off workers.

The former Encore Mortgage executive said he will concentrate on lower FICO score lending, in particular what he calls the “B&C” market.

Today, Fannie Mae/Freddie Mac g-fees average 50 to 55 basis points compared to 24 bp back in 2009.

MountainView Servicing Group has set a bid deadline of August 29 on the Fannie Mae/Freddie Mac MSRs.

It appears that mortgage bankers are beginning to liberalize, somewhat, the credit scores they're willing to accept on FHA loans.

EverBank also will evaluate each eligible borrower still in the process of foreclosure for a new loan modification.

Just how brutal will this mortgage correction be? One thing's for certain: loan officers with close ties to Realtors and builders will be golden.

CFPB examiners found numerous loss mitigation mistakes, including inconsistent communications with borrowers, spotty loss mitigation underwriting and long application review periods. All this could lead to new regulations for servicers.