Mortgage advisors at Sindeo are paid a flat fee for every mortgage closed. Bonuses are based on customer satisfaction.

A fair question to ask is this: If DOJ goes after Mozilo, why not go after the owners of Ameriquest/Argent which created so much of the faulty subprime product that Greenwich securitized?

Currently, residential lenders only have to report information on a closed-end reverse mortgage if the transaction involves a home purchase, home improvement or refinancing.

The increased market share for first-time homebuyers is part of a seasonal trend that has occurred in each of the past three years.

The second-quarter rebound in mortgage profits was linked to an increase in new lending and loan sales.

In its statement announcing the settlement, BofA stressed, “The claims relate primarily to conduct that occurred at Countrywide and Merrill Lynch prior to Bank of America's acquisition of those entities.”

Most servicing advisors – and stock analysts – continue to believe Ocwen will complete the Wells deal, probably sometime this fall. “Who else is willing to buy it?” said one source.

Franchise deals – where stock and licenses change hands – could dominate the M&A market for the remainder of the year.

The average loan officer makes a $4,000 commission on each reach reverse mortgage they originate. Really?

Among the banks reporting that the rules had no effect on their approval rates, half indicated that lending policies would have been tighter without the safe harbor for mortgages that pass the GSEs’ automated underwriting models.