Some of the improper fee charges were blamed on clerical errors…

Fun fact: Over the past five years, the nonbank share of the agency servicing market has almost doubled and now stands at 47.2%...

One servicing advisor told us he anticipated his clients (smaller shops) would likely take a hit of 2 to 5 bps on their MSRs, but it looks like the big boys are reporting numbers that are worse than that...

The warning comes in the wake of a Government Accountability Office report identifying weaknesses in FHA’s oversight of HECMs, particularly in monitoring, performance assessment and reporting.

Keep in mind that, Ginnie MBS is back-stopped by the full faith and credit of the U.S. government. By comparison, Fannie Mae/Freddie Mac MBS carry an “implied” guarantee.

The VA program saw the sharpest spike in refi activity, shooting up 69.7% from the second quarter.

Sources indicated that Kasper was hoping to be nominated as permanent president; but, in what has become a pattern for the Trump administration, the nomination notice never came.

The FHA program saw the slowest gain in FTHB business, up just 13.6% from the previous period…

Although Brian Montgomery has been sworn in, he still faces a hearing in the Senate. Meanwhile, the Senate’s time might be taken up with a possible impeachment trial…