Bill King joined Carrington 18 months ago, but recently departed the firm, which is owned by a hedge fund.

HUD has been steadily auctioning off nonperforming mortgages the past few months. Sources in the market disclosed to IMFnews who some of the winning bidders are. They include: Credit Suisse, Ellington, Kondaur, PIMCO and Varde.

The civil action entails the alleged taking from WJB of some 5,000 loan files. It should be noted that these aren’t just any LOs – the group in question ranks among the top producers in the nation.

Lobbyists and analysts who track the market are unanimous on one key issue: GSE loan limits. From what we’re told, Watt will shelve any thought of lowering the Fannie Mae/Freddie Mac mortgage limit in 2014.

Jumbo mortgages have a higher risk of fraud than conforming mortgages, according to a new report from Interthinx.

RFC is privately held. One of its top executives is Barry Habib, a well-known mortgage trainer who has worked at GMAC Mortgage and other shops during his career.

The man heading the MSR sales effort for Wells Fargo is Brian Kunar, who carries the title of senior vice president of servicing sales.

One lender that operates in the Irvine area noted that his firm has received several resumes from former Rushmore workers.

One last thought on Berkowitz and Fairholme: To get Congress to listen to your ideas you have to donate money. Berkowitz can check that box off his to-do list. He has been a generous donor to Republicans and Democrats alike over the past two election cycles.

Are mortgage bankers so diabolical that they attempt to find a way around new regulations? Industry consultant Joe Garrett of Garrett, McAuley & Co. thinks so.