Powell didn’t mince words: "You see activities that had once been principally the province of banks moving into the nonbank sector."

MFA already owned a minority stake in Lima One.

One bit of positive news: the company marked up the asset value of its MSRs by a stunning $1.44 billion to $4.31 billion, a 50.3% sequential improvement.

More gas left in the MBS tank? Certainly looks that way...

In early April, New Residential agreed to buy competitor Caliber Home Loans for roughly $1.68 billion.

A diverse group of 21 commercial banks and savings institutions reported $3.75 billion of mortgage-banking income for 1Q21, a 1.7% improvement from the fourth quarter.

Mark Calabria: "Just like other large financial institutions, these plans will provide Fannie Mae, Freddie Mac and FHFA with a roadmap for preserving business continuity should they fail again."

Jeffrey Naimon, a partner at Buckley, warned that CFPB enforcement lawyers are pressing hard on discovery issues — requiring investigational targets to provide more information faster.

Of the total in COVID deferral status at the end of March, 91.56% of loans were current. Another 3.76% were one or two payments past due, and 4.69% were three or four payments late.

loanDepot: “Competitive pressures from pricing strategies implemented by other market participants had a market-wide impact on margins."