The terms of the settlement include $500 million in consumer relief and a cash payment of $468 million.

Outside of CitiMortgage and SPS, no other servicers received one-star ratings on the seven metrics tested for the Treasury in the first quarter of 2014.

Analysts point out that bank earnings have suffered less than revenues, and many institutions responded quickly by downsizing their mortgage operations, although these cost-cutting efforts won’t show up in expenses immediately.

At the FHFA, Singh was involved in strategic planning to help attract private capital to the mortgage industry, a key goal of former Acting Director Edward DeMarco…

“DOJ may not have the evidence to try this as a fraud case,” Judge Max Cogburn said.

The average combined loan-to-value ratio on the deal is 71.5 percent, one of the highest levels for the new era of jumbo MBS.

“This appears to be very good news and is a credit to our collective work with the Coalition for Sensible Housing Policy,” the National Association of Realtors told its members.

“I’m tired of having the AMC acting as my pimp," said one appraiser. "The current situation is ruining the appraisal profession and turning appraisers into whores for the AMCs."

We’re hearing unconfirmed reports that the Federal Housing Finance Agency may not hire a chief executive and chairman for the common securitization platform project after all…

But there was some good news: Jumbos accounted for 18.7 percent of total originations in the first quarter of 2014, a level not seen since 2004.