One of PHH’s largest private label clients is Merrill Lynch, which is owned by Bank of America.

FHFA chief Mel Watt said he would not “elaborate on these issues today,” but promised “you will certainly be hearing more about this as we move forward.”

The most significant bill up for debate Wednesday is the Portfolio Lending and Mortgage Access Act, introduced by Rep. Andy Barr, R-KY, which would deem all loans held in portfolio to be qualified mortgages under the CFPB’s ability-to-repay rule.

“The first thing we found is that homeowners need to know that they’ve been assigned a trusted advisor who will help them navigate the work out process,” explained one Fannie Mae official.

CSP watchers say the GSE platform is starting to look like an orphan under director Mel Watt. But will Watt mention the project in his first public speech next week?

Sixth-ranked Freedom Mortgage Corp. bucked the overall trend with a 19 percent increase in TPO deliveries to the agencies.

Redwood Trust officials said its next jumbo MBS likely will be issued late in the second quarter.

“They’re either going to shut their doors, merge or sell out to someone else,” one M&A advisor told Inside Mortgage Finance. “We could see 2,000 firms disappear.”

Of late, nonbanks are showing an increasing interest in buying delinquent loans out of Ginnie Mae pools.

The transfer of mortgage servicing rights from one owner to another will continue to be a focus for state regulators.