Secondary

Wells Fargo and JPMorgan Chase had reduced mortgage-related earnings in the fourth quarter as home loan activity continues to fall short of expectations.

Revenue slumped 5% in the fourth quarter, the third drop in the past year and a bigger one than analysts had expected.

Radian and Essent will make their "black box" mortgage insurance pricing methods live on Jan. 21, leaving MGIC as the only company yet to announce its adoption.

Citigroup's residential mortgage originations declined 23% and its home-loan revenue dropped by 35% year-over-year in the fourth quarter of 2018, as the company continued to distance itself from home loans.

Loans in commercial mortgage-backed securities originated after 2009 by nonbank lenders have a significantly higher default rate than those originated by banks, a Fitch Ratings report said.

At Ginnie Mae, Michael Bright worked closely with Congress to fight churn in VA mortgages; he plans to bring the same collaborative approach to the Structured Finance Industry Group.

Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.

The government shutdown could affect mortgage origination credit quality as lenders miss some red flags normally found using data that is not currently available, according to Moody's.

Due diligence firm American Mortgage Consultants has purchased Meridian Asset Services as part of its continuing efforts to expand through acquisition or organic growth.

The standards for mortgage lending constrained in December, as a drop in conventional credit brought availability to its lowest point since February 2017, according to the Mortgage Bankers Association.