One of the biggest development this year has been the growing consistency in issuance of nonprime MBS.

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.

Analysts at Bank of America Merrill Lynch said the action by Wells was “the most talked about topic” among market participants recently.

The Invictus Opportunity Fund recently raised $35.56 million in capital.

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…

Fannie Mae and Freddie Mac acquired $57.17 billion of single-family loans with private MI coverage during the second quarter…

The deals are the subject of a lawsuit filed by MBS investors alleging that Wells Fargo failed to perform its duties as trustee...

The Seneca MSR portfolio is top heavy with California product…

One negative effect: the costs required to service both performing and nonperforming loans have increased substantially.

The top three Ginnie Mae issuers in 2Q17 were PennyMac, Wells Fargo and Freedom Mortgage…