Paul Muolo

PHH Corp., which this week ousted its CEO amid perceived liquidity concerns, may start selling some of its huge holdings of mortgage servicing rights, according to industry analysts.

Mortgage bankers funded $26.6 billion of jumbo loans during the third quarter, a handsome 30% gain from the same period a year earlier, according to new survey figures compiled by National Mortgage News and the Quarterly Data Report.

Did perceived liquidity problems at PHH Corp. lead to this week's ouster of company president and CEO Jerry Selitto? I'm told that PHH doesn't have any liquidity problems and the company said as much in a recent SEC filing.

Now that a 10 basis point hike in GSE guarantee fees has been carved into law, mortgage rates could rise by as much as 25 basis points, according to calculations done by Lenders One, a national cooperative of mortgage funders.

The Collingwood Group, a Washington-based mortgage advisory firm, has acquired GWN Consulting LLC, a specialist in FHA and GNMA risk management and quality control services.

A new book from journalist Robert Neuwirth estimates that small, illegal, off-the-books businesses collectively account for trillions of dollars in commerce and employ fully half the world's workers. How much of this is going on in America is another question.

Although profit margins are still healthy for most mortgage banking firms, net income in the new year will continue to be impacted by "high" rep and warranty expenses, according to a recent report from Keefe, Bruyette & Woods.

Mortgage applications fell almost 4% for the holiday week ending December 30, according to new figures compiled by the Mortgage Bankers Association. The decline is calculated on a sequential basis.

Mike Anderson has resigned as vice president of government affairs for the National Association of Mortgage Brokers.

The top 10 sellers of mortgages to Fannie Mae and Freddie Mac pay 20 basis points in guarantee fees compared to 30 bps for firms outside the top 100, according to a new report from Keefe Bruyette & Woods.

Mike Anderson last week resigned as vice president of government affairs for the National Association of Mortgage Brokers.

If anyone thought the GSE 'Buyback Wars' would subside in 2012 all they have to do is read a recent SEC filing from Bank of America, the poster child of repurchase claims. The bank notes that the "criteria by which the GSEs are ultimately willing to resolve claims have changed in ways that are unfavorable to us."

MGIC Investment Corp., at yearend contributed $200 million of cash to its mortgage insurance subsidiary as two important capital waiver deadlines expired.

BOFI Federal Bank, San Diego, is ready to kick off its new warehouse lending business, targeting correspondent lenders.

Between foreclosures and paying down their loans through “cash-in” refinancings, the nation’s mortgagors are continuing to whittle down their housing debt—and that’s bad news for the nation’s servicers.

It's time for eggnog and yearend lists—top news stories, newsmakers, stuff like that. But what about the great mortgage rumors that got away? Here lay five stories/rumors that went nowhere:

Fitch Ratings this week downgraded its servicer rating on Ocwen Financial Corp., Atlanta, questioning its rapid expansion in servicing contracts and voicing doubts about its heavy use of offshore workers.

What would Congress do if it didn't have housing (and mortgage banking) to kick around? Who knows, really. Passing the payroll tax break extension was a good idea. It puts extra money in the pockets of potential mortgage customers who might use the cash to finance a home.

Five industry trade groups have sent a new letter to Federal Housing Finance Agency director Edward DeMarco, telling him – more or less – that they believe the 'fee for service' concept would be a disaster for both the industry and consumers.

Add the name of EverBank Financial to the list of bidders that have been kicking the tires at MetLife Home Loans, Irving, Texas.