The former Encore Mortgage executive said he will concentrate on lower FICO score lending, in particular what he calls the “B&C” market.

Today, Fannie Mae/Freddie Mac g-fees average 50 to 55 basis points compared to 24 bp back in 2009.

MountainView Servicing Group has set a bid deadline of August 29 on the Fannie Mae/Freddie Mac MSRs.

FHA is seeing its cash reserves increase more than expected. Meanwhile, yet another mortgage vendor is laying off workers.

Nonbanks the likes Ocwen Financial, Nationstar and Walter Investment will continue to be buyers of mortgage servicing rights.

In a letter to DOJ, Sen. Warren said the federal government could have gotten more for FHA under the False Claims Act’s treble damages provision.

Late this week, some reports surfaced suggesting that an “alternative” proposal could surface, requiring a 30 percent downpayment for QRM status.

CFPB examiners found numerous loss mitigation mistakes, including inconsistent communications with borrowers, spotty loss mitigation underwriting and long application review periods. All this could lead to new regulations for servicers.

Just how brutal will this mortgage correction be? One thing's for certain: loan officers with close ties to Realtors and builders will be golden.

It was the biggest volume of new lending above the conforming loan limit since the second quarter of 2007 – before “emergency” conforming loan limits were authorized by Congress.