An active mortgage wholesaler in California is letting account executives go. Stay tuned for details.

The loans in the new Redwood deal have the strong characteristics associated with jumbos, including an average credit score of 766 and a combined loan-to-value ratio of almost 71 percent.

Is the White House ready to give up on Rep. Mel Watt, D-NC, to be the next director of the Federal Housing Finance Agency? Don’t bet on it.

Big banks were the five largest jumbo originators last year, with Bank of America ranking second followed by JPMorgan Chase, Citigroup and U.S. Bank.

The planned $209.95 million Citigroup Mortgage Loan Trust 2013-J1 is backed by mortgages seasoned an average of four months from six lenders.

Bill Erbey, the company's founder and chairman, downplayed concerns that Ocwen is growing too quickly.

The audit of the FHA's MMI fund should be ready by Christmas, not Thanksgiving.

Moody’s believes the servicers’ transitions into mortgage originations was positive, but raised concerns about declining refinance opportunities, competition with banks and the potential for nonprime originations.

At press time, there were reports circulating that one mid-sized nonbank planning to enter the correspondent acquisition market had pulled the plug and laid off staff. The firm is expected to talk to IMFnews Thursday morning.

The nomination of Rep. Mel Watt, D-NC, to replace current Federal Housing Finance Agency Acting Director Edward DeMarco may not dead after all.