Secondary

Black Knight and PennyMac Financial Services are suing each other in separate disputes linked respectively to the latter's creation of a servicing platform and the former's dominant position in the market.

An increase in credit risk transfer activity since 2015 signifies a sea change for private mortgage insurers that may be about to intensify, according to an industry trade group.

Ocwen Financial's cost-cutting initiatives are bearing fruit toward returning to profitability, management said, although the company's third-quarter loss was slightly higher than the same period one year ago.

Sixty percent of the loans were underwritten with just 12- or 24-month bank statements, according to ratings agency reports.

The Supreme Court is ready to weigh in on the CFPB’s leadership structure, but both agencies are facing similar constitutional challenges, suggesting a broader impact of any decision.

The Federal Housing Finance Agency is seeking comment on a proposal that could pave the way for potential Fannie Mae and Freddie Mac competitors to use the uniform mortgage-backed security structure.

Early payment mortgage defaults went to the highest level in nearly a decade, particularly among loans included in Ginnie Mae securities, a Black Knight report said.

Freddie Mac is now forecasting back-to-back years of $2 trillion in mortgage loan originations rather than a drop-off in 2020.

The Dallas company said it should be able to avoid restating past financial results. It also reported higher quarterly earnings helped by increased mortgage activity.

More private mortgage insurers reported significant year-over-year gains in new business during the third quarter, mainly driven by the increase in refinance volume.