Michael Heid, one of the new directors at Fannie Mae, recently retired as president of Wells Fargo Home Mortgage.

Walter’s stock price has declined by about 80 percent in the past year due to regulatory issues and other pressure on nonbank servicers...

Some 4.0 million mortgage borrowers had negative equity at the end of the first quarter of 2016, down 21.5 percent from the first quarter of 2015.

The deal is the first post-crisis nonprime MBS to receive a credit rating and it will be the largest post-crisis nonprime MBS issued to date.

Last year, $18.8 billion in outstanding IOs in non-agency MBS hit 10-year recasts…

However, Fitch did raise concerns about the expenses associated with Pentalpha Surveillance, which will review potential breaches of representations and warranties…

JPMorgan Chase may not like FHA loans very much, but it certainly has a strong appetite for jumbos, hence the huge growth in its retained portfolio...

The Lone Star bond could also receive credit ratings, which would be a first for a nonprime MBS backed by new originations in the post-crisis era...

Better loan grading on the way?

Meanwhile, David Lykken of Transformational Mortgage Solutions told us he was the consultant who “got Chad Overhauser in the business and helped him start AmeriPro.” Overhauser is the president of AmeriPro…