FHA needs money, right? Some of that cash may come to the government insurer in a roundabout way from JPMorgan Chase.

Here's an odd turn of events: Freddie Mac might bail out Uncle Sam. Meanwhile, the mortgage insurance industry continues to mend.

Besides Citi, a handful of large depositories are in the midst of wrapping up sizable MSR auctions this week, including offerings from Wells Fargo and Flagstar Bancorp.

A new audit of the Mutual Mortgage Insurance Fund is due in October and speculation about its cash reserves is not good.

Citadel Servicing CEO Dan Perl said "the phones are ringing like a son-of-a-gun" at his nonprime lending shop.

The bloodletting in Citigroup's mortgage division may just be starting.

Over the past two years, upwards of $1 billion has been raised by private-equity funds seeking to buy servicing rights in the secondary market.

Art Ringwald, who helped put Bank of America on the mortgage map before departing in 2001, is looking to do "roll-ups," among other things.

Loan officers, so far, have been spared the layoff carnage, but that may change depending on where volumes wind up.

The secondary market for mortgage servicing rights continues to spit out new offerings, especially in the bulk arena.