All of the loans in the MBS were originated by LendSure Mortgage. Ellington owns a 45% stake in the lender and provides a warehouse line of credit to the firm.

Purchase-loan activity increased significantly and continued to account for most agency business.

There was some positive news in the form of originations. Ocwen funded $412.2 million in forward and reverse mortgages in 3Q, declaring that its annualized run rate (based on October production) now totals $2.6 billion.

JPMorgan Chase was the top earner in the third quarter with $886.0 million in mortgage banking fees and related income, a three-fold increase from the previous period. However, the huge gain comes with a significant asterisk…

Freddie CEO David Brickman: “The ability to absorb that risk is largely a function of how much capital you’ve got, and we have very little.”

The marketplace lender and bank are offering HELOCs to borrowers in a handful of states.

The FHFA declined to single out which GSE it was talking about...

In 3Q19, PennyMac Financial Services, the nation’s fifth largest home lender, earned a record $121.9 million.

A kinder, gentler CFPB? Looks that way. The agency now typically addresses fair lending violations through the supervisory process by issuing firms letters, such as “matters requiring attention” or “supervisory recommendations,” rather than escalating them to enforcement actions.

It might be easier to sell stock in a reconstituted Fannie and Freddie after the old companies are wiped out through receivership and “new” entities are created. FHFA has the power to sell the charters but not the legal authority to issue new charters.