Mortgage credit is not easing. Meanwhile: Why did the heads of the CFPB and FHFA cut and run at the MBA show?

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

Garth Graham, head of Stratmor Group’s marketing strategy and execution practice, said lenders should use the leads and data they already have.

Is Ed DeMarco unimpressed with Fannie and Freddie's return to profitability? “…we should keep the recent reports of positive net income in perspective,” he told the audience of the Bipartisan Policy Center this week. “Much of it has been related to one-time adjustments..."

Roughly 4,100 people have registered to attend the annual convention of the Mortgage Bankers Association, which launches Sunday night in Power City USA.

Mortgage lenders far and wide have been laying off full-time staffers by the thousands over the past month as the industry adjusts to both lower originations and a lighter workload tied to the servicing of problem loans. The latest casualties include Wells Fargo, which recently announced plans to cut an additional 925 mortgage “team members” across the U.S.; SunTrust (800 positions); Mortgage Investors Corp. (500); and CashCall (486). Wells cut 5,300 mortgage workers in the third quarter alone, but that figure does not include the latest bloodletting. JPMorgan Chase estimates by the time 2013 ends it will have cut 11,000 mortgage-related jobs. Moreover, according to officials at executive search firms, now mortgage vendors are...

Marc Savitt, president of National Association of Independent Housing Professionals, a broker/appraiser trade group, noted that the short-term outlook for the sector looks difficult.

CashCall, a refi specialist that sells most of its production to Fannie Mae, is shedding a large chunk of its staff.

At least two young mortgage insurance firms hope to go public by yearend. But how might the market receive these deals with so much uncertainty surrounding the GSEs?

One mortgage recruiter noted that job losses in somewhat rural communities can be a big problem for workers. “Sometimes they’re the largest employer in town and there’s nowhere else to go,” he said.