In a blog posting midweek, attorney Barbara Mishkin of Ballard Spahr says it appears Cordray will not resign before Labor Day…

The Fed just greenlighted a bank M&A deal...

Meanwhile, net servicing income fell to $27 per loan in 2Q17 from $225…

Another source added: “Eli’s interest in the industry is legit. They want to buy and hold companies.”

NRMLA said the changes "diminish the benefit (amount of loan proceeds) available and increase the costs (increased upfront mortgage insurance premium) to most borrowers.”

Earlier this month, nonprime lender Citadel Servicing Corp., Irvine, CA, launched a one-month bank-statement program for self-employed borrowers.

Cowen & Co. predicts that storm damage caused by the hurricane could “encourage” lender consolidation…

Late last year, IBM bought Ludwig’s Promontory Financial Services advisory firm, but the former OCC chief kept two divisions: Promontory MortgagePath LLC and Promontory Interfinancial.

So, how is the program doing? A spokesman for UWM said 40 firms were created with the first round of seed money and all are still in business.

“Before a loan closes there will need to be [property] reinspections,” said Pete Mills, senior vice president of residential policy and member engagement for MBA.