Quicken Loans signed a $32.5 million agreement with the federal government to settle FHA underwriting allegations that accused the nation’s largest direct lender with fraud. As part of the deal, the privately held nonbank – the creation of Midwestern businessman Dan Gilbert – did not admit any wrongdoing and will continue to originate and service FHA loans…

According to Craig Knutson of mortgage REIT MFA, yields on non-qualified mortgages are currently around 5% while yields on fix-and-flip loans are around 7%. Which would you choose?

In some cases the bureau has even targeted nonbanks even though these institutions – by law – are not covered by the Community Reinvestment Act... 

It was the weakest reading on home-equity originations since early 2015, when production of closed-end seconds and new borrowing on home-equity lines of credit totaled an estimated $38.0 billion.

Apparently, the Consumer Financial Protection Bureau is busy pursuing fair lending supervision and enforcement cases. Stay tuned...

Issuers say they receive better execution on GSE-eligible investment-property loans in the non-agency market rather than delivering the collateral directly to Fannie and Freddie...

Looks like Ocwen is pushing the button on a name change and it's not Newco...

Tom Wipf of Morgan Stanley: "It’s time that all market participants transition their products away from U.S. dollar LIBOR where possible..."

Bank of America, the nation’s second largest jumbo producer, only uses the retail channel…

One West Coast-based manager singled out what he called “low-ball pricing”...