Choice mortgages carry rates that are roughly 100 basis points to 125 basis points higher than rates on Redwood’s super-prime program, known as Select.

BofA CEO Brian Moynihan: “Now, the answer is, we just retain the mortgages and frankly the credit quality on ours is not worth paying the insurance [associated with selling loans into MBS].”

Ocwen originated $699.6 million in the second quarter, with a near doubling of retail originations unable to fully offset the wind-down in correspondent production…

The maneuver was uncommon and prompted speculation that other trustees might take similar actions.

A telling sign: Bank of America employed 6,603 servicing employees as of the end of 2016, down 78.0 percent compared to the end of 2013.

At times in 2016, Impac had a monthly retention percentage as high as 84.0 percent, which Joseph Tomkinson said was a market-leading retention rate.

“While originations to-date have been nominal, we expect a ramp-up production from here as we continue to increase marketing and consumer awareness of the Ally Home offering,” Christopher Halmy said.

A number of lenders have experienced a sharp decline in refinance volume without a meaningful increase in purchase-mortgage originations, according to Jonathan Corr, president and CEO of Ellie Mae.

More Fixes to the CFPB's TRID are in Order.

Fed Says Refi Ads Can be Made More Effective.