Compared to the same period a year ago, servicing balances have fallen by 19.5 percent.

In late May, Walter disclosed in an SEC filing that some of its previously issued financial statements could not be relied upon because of what it called an “accounting error.”

Walter Investment filed a WARN notice with the Texas Workforce Commission, saying it will close its Irving, TX, office and cut 437 workers...

Walter, the parent of Ditech Financial, said it expects to “acknowledge receipt” of the compliance violation and “notify the NYSE of its intention to seek to cure the deficiency…”

It hasn’t been pretty the last couple of weeks for MBS values…

Mortgage gain-on-sale margins likely will be flat...

JPM reported mortgage banking income of $1.43 billion in the second quarter, off $103 million from the first quarter and down $495 million compared to 2Q16.

According to Fairholme’s math, the GSEs earn over $15 billion a year, and taxpayers own 80 percent of the companies (via the senior preferred). Berkowitz values the senior stock at $100 billion…

The Seneca MSR portfolio is top heavy with California product…

The $5.5 billion (to be) paid by RBS should boost GSE earnings big time...