Mortgages in the newer deal have seasoned for an average of three months while loans in the other MBS are roughly 15 months old.

Another round of funding for Blend means one of these days the industry vendor will have to go public because all those venture capital funders are going to want a return on their investment. And Blend had better not disappoint...

One California-based broker told IMFnews: “They’ve always had wholesale. They do a decent job – they’re similar to UWM [United Wholesale Mortgage].”

In May of this year Blankenstein resigned from the CFPB, where he served as associate policy director overseeing supervision, enforcement and fair lending. His past writings came to light in the fall of 2018.

The $377.47 million deal from Waterfall Asset Management marks the second non-agency MBS backed by proprietary reverse mortgages to receive a credit rating since 2007.

In a similar move, FHA is developing a modern, single-technology platform suitable to the emerging digital and paperless mortgage environment. The system will provide lenders with a single port to conduct business from applications to claims, including the ability to track requests throughout the life cycle of the loan, said FHA Commissioner Brian Montgomery.

Although similar to Fannie’s HomeStyle loans, CHOICERenovation is novel in that it can also be used to renovate and repair properties damaged in a natural disaster, or to fund renovations, such as flood barriers or retaining walls, that might help prevent damage from a natural disaster.

Much of the decline came right at the top as Wells Fargo reported a drop of $19.85 billion in total mortgage servicing during the first quarter.

At a recent American Bankers Association conference, Cathryn Abshier, fair lending officer and vice president of compliance at Mr. Cooper, said the nation’s third-largest servicer is seeing state regulators focus on disparate impact in their fair lending examinations.

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