The DOJ alleged that First National Bank of Pennsylvania continued a practice seen at Yadkin Bank of focusing mortgage lending disproportionately on white areas of Charlotte and Winston-Salem.

The National Community Reinvestment Coalition accused banks of hypocrisy for filing a lawsuit against new standards under the Community Reinvestment Act.

One thought: Nonbanks will use the cash to purchase MSRs from federally insured depositories...

A big chunk of the nonbank gains came through secondary-market acquisitions.

On a pre-tax basis, PennyMac’s production segment generated $39.4 million in income in the fourth quarter, up 56.3% from the previous quarter.

“While pausing foreclosures for these men and women was a step in the right direction, our veterans and servicemembers need to be able to bring their mortgage current while VA works on its long-term solution,” said Sen. Jon Tester, D-MT, chair of the Senate Veterans Affairs Committee.

“There’s a big gap between what people are currently paying for insurance and probably what needs to be collected to cover damages,” said Dave Burt, CEO of DeltaTerra Capital.

The impairment rate on securitized non-QMs increased by more than 100 basis points between August and December.

FHA’s share of the primary mortgage insurance purchase business grew from 25.7% in 2022 to 32.1%.

United Wholesale Mortgage is offering a 100-basis-point pricing incentive for conventional rate/term refis.