Watt has given no indication that he wants to wade into this mess and has repeatedly stressed that it’s up to Congress to figure out what to do with Fannie and Freddie.

The settlement agreement stemmed from a complaint filed by the Department of Housing and Urban Development against First Citizens Bank and Trust Co. in 2011 after an analysis of 2010 Home Mortgage Disclosure Act data.

Some 4.0 million mortgage borrowers had negative equity at the end of the first quarter of 2016, down 21.5 percent from the first quarter of 2015.

The deal is the first post-crisis nonprime MBS to receive a credit rating and it will be the largest post-crisis nonprime MBS issued to date.

Merger-and-acquisition activity in the mortgage sector has been relatively mild so far this year, but suddenly the table has turned with a handful of deals announced over the past two weeks and some lenders publicly stating their intentions as buyers. And one thing seems certain: It appears that all of the acquisitions will be accomplished through “asset” purchases as opposed to the acquisition of stock, be it private shares or otherwise. Early this week, Guild Mortgage, San Diego, inked...

The bid deadline on the $783 million portfolio is June 16. The other deal – heavy with Texas product – has a bid decline of June 15.

Last year, $18.8 billion in outstanding IOs in non-agency MBS hit 10-year recasts…

Equity Prime Mortgage of Atlanta said it’s hiring in all areas, including sales, servicing, operations and compliance…

However, Fitch did raise concerns about the expenses associated with Pentalpha Surveillance, which will review potential breaches of representations and warranties…

Another bank seeing a pickup in clients is Southwest Bank, Dallas…