Justice Stephen Breyer raised eyebrows by characterizing the net worth sweep as a nationalization of the enterprises. “That’s what they did,” he said. “If you look at their giving the net worth to Treasury, it’s nationalizing the company.”

The FHA/VA market was more subdued, with total conforming-jumbo loans pooled in Ginnie MBS rising 16.7%. The VA program accounted for 83.0% of government-insured jumbo volume, with quarterly securitization up 17.7%.

According to Moody’s, prior to the securitization, loanDepot had sponsored five warehouse deals totaling $1.8 billion...

The decline in first-time buyer share was due in part to a failure of the government-insured sector to keep pace with the conventional market.

The two FDIC researchers examined more than 11 million mortgages...

In June, community advocacy groups, including the NCRC, brought a lawsuit against the Office of the Comptroller of the Currency over its final CRA rule...

The proposal is modeled after the FHA's partial claims program, though there are differences...

Those top three banks increased their mortgage banking income by a combined $1.35 billion — or nearly 60% of the industry’s $2.29 billion increase during the third quarter.

Nearly 30% of borrowers with loans in the deal have received forbearance or a deferral. The servicer, Citadel, will not make advances on delinquent payments.

Flagstar, a top-20 player in mortgages, recently posted a handsome $222 million profit for the third quarter.