Look out below on rates? The FOMC meets this Wednesday and some market watchers are predicting a surprise rate cut...

As recently as late April, Quicken reiterated it would not settle the False Claims Act case even though both parties earlier this spring agreed to work with a court-appointed mediator to try to resolve their dispute.

But Moody’s sees it differently, stating “more competitors could lead to weaker underwriting standards or price competition, both credit negatives for the GSEs’ creditors. How negative this would be depends on how quickly, and predictably, their market share declined.”

Quicken Loans signed a $32.5 million agreement with the federal government to settle FHA underwriting allegations that accused the nation’s largest direct lender with fraud. As part of the deal, the privately held nonbank – the creation of Midwestern businessman Dan Gilbert – did not admit any wrongdoing and will continue to originate and service FHA loans…

Mark Calabria of the FHFA: “But from a risk perspective there are some key differences between banks and non-banks that we need to address in a responsible way. Prudent, sustainable risk management is one of my top priorities.” The regulator did not elaborate much...

Interest rates are falling, refis are increasing and optimism abounds among many mortgage professionals. However, hiring has not been robust this spring but all that may soon change.

Among the top three Ginnie Mae servicers at March 31, just three were banks: Wells Fargo, U.S. Bank and JPMorgan Chase. Among those ranked 11 to 20 four are depositories, including one credit union...

Firms that might fit the bill include private equity and global investment managers the likes of The Blackstone Group, KKR & Co., and PIMCO, all of which are quite familiar with the mortgage market already.