Important lessons learned this week: What goes up, must come down; mortgage rates don't always track the 10-year Treasury; stock speculation (Fannie/Freddie) is not for the faint of heart...
Quicken Loans was the top ranked FHA producer for the year with $17.4 billion, followed by United Wholesale Mortgage ($13.1 billion) and Freedom Mortgage ($8.7 billion).
Ocwen is losing a big subservicing contract with REIT New Residential but isn't worried about the development because the contract was unprofitable in the fourth quarter...
Net income at Mr. Cooper was aided in a major way by a $285 million recovery tied to deferred tax assets. Meanwhile, on the origination front, the company funded $12.6 billion in product during 4Q19, up 5.8% from 3Q19.