The mortgage M&A market is beginning to heat up. Flagstar has auctioned off two large MSR packages, and LoanDepot is merging with another firm.

Cerberus Capital is contemplating purchasing additional mortgage banking firms. Meanwhile, the CFPB doesn't like what it sees in the servicing space when it comes to customer service.

PHH Mortgage may unload billions of dollars in housing receivables, while remaining as the subservicer on the underlying loans.

Mini-correspondent lending is hot, but wholesale may be on the decline. Surprise: RE/MAX files to go public.

Fannie Mae will lower its maximum LTV. Mortgage insurance firms are not happy. Meanwhile, NAMB blames shrinking application volumes on summer vacations.

Cole Taylor Mortgage is talking to several semi-finalists that want to buy the company. Meanwhile, it's business as usual at the bank-owned lender.

PennyMac is once again stepping up to the NPL plate with some major deals. Meanwhile, cash-out refis continue to dwindle.

If you thought that Bank of America was done selling mortgage servicing rights, think again.

Fannie sold $2.2 billion of non-agency assets in the first half of the year. Meanwhile, Freddie sold at least $1 billion of non-prime MBS in May.

As refinancings continue to fall, lenders that specialize in such loans will see their franchise values drop dramatically.