“March 31 servicing marks were up significantly from where they were at Dec. 31,” said George Christo, executive vice president of The Prestwick Group.

Both companies — wards of the federal government since the fall of 2008 — have benefitted from record originations, which in turn have juiced secondary market transactions, and subsequently their profits.

Has Ocwen CEO Glen Messina finally righted the ship at the nation's 17th largest residential servicer? We'll know in the quarters ahead.

The upfront MIP is 175 bps of the base loan amount on a 30-year fixed-rate FHA single-family loan. Most FHA borrowers pay an annual MIP of 85 bps for the full life of the loan.

On the plus side: revenues at Freddie increased 4.9% from the fourth quarter of last year...

The top three home lenders in the first quarter: Quicken Loans, PennyMac Financial Services and Wells Fargo. UWM and Freedom Mortgage were a close fourth and fifth, respectively.

Redwood's income from aggregating and selling jumbos increased during the first quarter, with more volume and high margins.

Servicers also repurchased $20.22 billion of delinquent loans from Ginnie MBS in the first quarter, or 9.3% of total removals.

Mr. Cooper's vendor blamed the withdrawal snafu on a "processing issue."

Company CEO Mat Ishbia was also named as a defendant...