“Morgan Stanley lied about the risk of its products and put profits over teachers and public employees who relied on its advice,” according to California Attorney General Xavier Becerra.

Typically, loan officers do not need to apply for the transitional licenses separately...

Most lenders were expecting a bad quarter. And they were right, but a few shops bucked the trend, including BofA, Freedom, Quicken and UWM...

At Dec. 31, MetLife held approximately $11.74 billion in whole loans. In the past, the life insurer had focused on seasoned mortgages, but two years ago started buying newly-originated prime and near-prime mortgages.

Following one of the last major payouts related to the subprime mortgage crisis, WMC files for Chapter 11 reorganization.

Industry vets might recall that WMC started out in life as Weyerhaeuser Mortgage...