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.

If Fannie and Freddie are in fact released from conservatorship will they quickly rebuild their lobbying shops?