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Flagstar Bancorp returned to profitability in the first quarter after tax reform caused a loss in fourth quarter, but its mortgage revenues dropped 15% due to margin compression and lower volume.

The Seattle company has faced criticism from an investor over its commitment to the business, which lost money in the first quarter.

The Cincinnati bank reported strong profits, but its efforts to lower credit risk curbed lending as expenses rose in the first quarter.

Former Cantor Fitzgerald managing director David Demos is on trial, accused of deceiving clients about the prices his firm could sell or pay for mortgage-backed securities.

A special agent who used to work for an investigative arm of Immigration and Customs Enforcement pleaded guilty to defrauding Freddie Mac and SunTrust Mortgage through a short sale.

The real estate investment trust is issuing $450 million of five-year notes backed by rights to excess servicing strips of Fannie Mae loans.

A data validation integration Freddie Mac is adding to its technology platform could also deliver representation and warranty relief to lenders when it verifies self-employed borrowers' incomes.

The Providence, R.I., company reported a double-digit increase in quarterly profits despite a year-over-year decline in fee-based revenue.

The news of the data breach cast a shadow over relatively strong first-quarter earnings for the Atlanta bank.

However, mortgage growth and servicing income weren't the only reasons profits rose by double digits at the Dallas bank.