One servicing advisor told us he anticipated his clients (smaller shops) would likely take a hit of 2 to 5 bps on their MSRs, but it looks like the big boys are reporting numbers that are worse than that...

Industry analysts attribute the rise to a search for yield by investors along with increased acceptance of non-QMs in the investor community.

The warning comes in the wake of a Government Accountability Office report identifying weaknesses in FHA’s oversight of HECMs, particularly in monitoring, performance assessment and reporting.

After the transaction closes, business-purpose lending investments will account for more than 15% of Redwood's investment portfolio, up from a 4% share.

The megabank – a bellwether for the residential finance industry – also reported that mortgage banking income fell 38.5% sequentially to $466 million...

Keep in mind that, Ginnie MBS is back-stopped by the full faith and credit of the U.S. government. By comparison, Fannie Mae/Freddie Mac MBS carry an “implied” guarantee.

Common sense dictates that the larger the MSR portfolio, the steeper the pain will be...

Those in favor of the concept include: JPMorgan Chase, PennyMac Financial Services, the Housing Policy Council and the Structured Finance Association…

The VA program saw the sharpest spike in refi activity, shooting up 69.7% from the second quarter.

The new MBS differs in some ways from previous expanded-credit issuance from Annaly, including a reduced reliance on mortgages from Banc of California and an increase in investment-property loans.