Not only is HUD looking into PHH's underwriting practices, but the government has questions about the lender's foreclosure expenses.

The auction market for nonperforming mortgages is beginning to generate heat with prices rising nicely from last year.

Come next year, Freddie Mac will assess lenders a fee of $7,500 if they fail to deliver mortgage loans with an aggregate principal balance of more than $5 million.

Nonbank servicers had an average of 275 loans per employee in the second half of 2012, according to Fitch, about the same level seen since 2010.

Bank investment in residential MBS fell 1.1 percent during the first quarter of 2013 to $1.562 trillion.

New bulk MSR packages continue to hit the market. Many of the new deals have low coupons and hardly any delinquencies.

A new bill to replace Fannie and Freddie with a single government guarantor is already being dismissed.

The Senate Banking Committee has yet to schedule a confirmation hearing for Mel Watt to head FHFA. Does this lack of action mean anything?

Is Ralph Nader in bed with hedge funds over Fannie Mae and Freddie Mac? Mortgage banking can make strange bed fellows.

The $443 million non-agency MBS, Chase’s second of the year, is set to receive AAA ratings with credit enhancement ranging from 6.90 percent to 10 percent for the top tranches.