Citigroup also marked down the asset value of its residential mortgage servicing portfolio to $2.282 billion, a 12 percent decline on a sequential basis.

Mortgage brokers who read the guidance said it reveals how little the young regulatory agency understands about the industry. If a broker has the financial ability to obtain a warehouse line of credit...

However, compared to the same quarter a year ago, loan production at Wells took it on the chin, falling a bloodcurdling 59 percent.

So, you doubt our 2Q origination estimate? Here’s what an executive from a top-five warehouse bank told us: “We’re experiencing a significant pick up in outstandings."

According to a copy of the offering circular provided to IMFnews, Quicken accounts for 32.86 percent of the loans.

Don't believe the naysayers. Second quarter originations turned out to be better than expected.

We know of some veteran mortgage bankers who believe the “fix and flip” housing market is getting overheated. One lender told us he fears a severe correction could hit California…

At the very least, MI firms must have $400 million in capital, and $500 million if the company is start-up mortgage insurer.

Impac anticipates that 90 percent of its non-QM volume will come through the correspondent and broker channels.

Over the past six months, many nonbanks have moved to sell MSRs as a way to remain cash flow positive in a tough origination market.