Mortgage-banking revenue was off due to lower originations and hedges tied to MSRs.

“We’re still not at the level of profitability where we should be in home lending, just given as we continue to wind down that servicing book,” said Charlie Scharf, CEO of Wells.

Chase expects a limited financial impact on its business from the LA-area wildfires.

Originations at the two big banks increased by around 7% on a quarterly basis in the fourth quarter.

No longer is it a given that the Federal Reserve will cut short-term rates twice this year. And the 10-year Treasury rate is elevated.

HUD alleged PHH charged convenience fees in violation of FHA requirements.

Rep. Derrick Van Orden, R-WI, said unelected VA officials shouldn’t have the authority to “write a $16 billion or $17 billion check” through creation of a loan-modification program.

The CFPB suggested that First Street Foundation does a better job of identifying flood risk than the Federal Emergency Management Agency.

“The current sell-off in the bond market works against that, obviously," said one servicing advisor.

Property insurance costs are expected to increase due to the LA-area fires.