Fannie seems to be blaming the FHFA for the departure of former CEO Tim Mayopoulos. The mortgage giant also warns: “If there were several high-level departures at approximately the same time, our ability to conduct our business would likely be materially adversely affected…”

However, the lender is considering reopening next year, potentially in another state. Massachusetts, New Hampshire, and Rhode Island are potential options...

FHFA Director Mark Calabria: "That might be fine for a normal company, but these are companies that are in conservatorship. They’re essentially in bankruptcy.” 

KBW on Ocwen: “While the company is setting up MSR [mortgage servicing rights] financing facilities, management noted returns on available MSR trended down, though the company did lower its targeted ROE [return on equity] on agency MSR to 8.5% from 9.5%."

Luxury Mortgage was founded in 1996 and is currently headed by CEO David Adamo. Years ago, there was a company with a similar name headed by Michael Covino…

The U.S. Treasury Department – the owner of Fannie/Freddie senior preferred – is the entity that owns the keys to the ownership kingdom…

Better.com was founded in 2016 as Better Mortgage with an emphasis on loan origination technology and non-commissioned loan consultants. A few months back, the lender secured $160 million of additional financing.

In the same 10-Q filing, Fannie makes it clear that it does not like one bit the prohibitions the FHFA has placed on its ability to offer volume-based pricing discounts to its seller/servicers. It also chafes at the notion of “similar restrictions" and being forced to operate a cash window for small lenders...

So now the big question: Are nonbanks really that risky when compared to depositories? A few decades ago, Congress had to bail out the savings and loan industry to the tune of $150 billion.

Compared to the same month a year ago, both sectors have trimmed workers: mortgage bankers by 5,300, brokers by 3,800.