The record $114.44 billion total for Fannie, Freddie and Ginnie represented a 33.7% gain from the third quarter.

The lender's gain-on-sale margin slipped to 176 basis points in the most recent quarter compared to 278 bps in the prior period...

In the first quarter, 52% of lenders said they believe their margins will decrease...

The agency noted the rule is consistent with a decision handed down by the U.S. Supreme Court last summer...

In 4Q20, Chase and Popular returned to more normal levels while repurchases at Wells remained somewhat elevated...

Ocwen: “The separation and release agreement provides for a release of claims against the company and for Mr. Yanoti to comply with certain non-solicitation and other covenants.”

Only a handful of non-QM MBS took losses. The reason: Investors were protected by credit enhancement...

The great irony: As federally insured banks continued to lose residential lending market share to the Quickens and the Freedom Mortgages of the world, their investment banking units benefitted by arming the competition.

Over the past three quarters, several Ginnie issuer/servicers have turned a nice profit by purchasing delinquent FHA (and to a lesser degree VA) mortgages out of MBS pools, rehabilitating the notes and then repooling them.

Fannie was quick to point out that borrowers harmed by the pandemic receive temporary payment forbearance, which is different from principal forbearance.