Shellpoint Partners downsized and restructured a jumbo MBS it initially planned to sell in September.

More than one in five loans originated today won’t satisfy the criteria for safe harbor legal protections as qualified mortgages under the ability-to-repay rule from the Consumer Financial Protection Bureau, according to an analysis by ComplianceEase.

The Structured Finance Industry Group offered its take on the loan limit debate.

In the third quarter of 2013, Wells Fargo sold a mere $8.4 billion in residential mortgages to Freddie Mac, a 71.3 percent plunge in volume from the second quarter, and a figure that represents just 17 percent of what the nation’s largest lender sold to Fannie Mae.

Although the credit characteristics of Fannie/Freddie purchase mortgages have remained fairly consistent over the year, there were some signs of loosening.

The QM Plus option would be limited to loans secured by a principal dwelling. No subordinate liens would be permitted for purchase-money transactions.

Still, one industry lobbyist warns that with Cory Booker’s election to the Senate, the White House may be willing to exert more influence to advance Mel Watt’s nomination to head the FHFA.

However, according to figures compiled by Inside Mortgage Finance, the U.S. subsidiary of the Canadian-owned bank doesn’t even rank among the top 30 lenders, at least not yet.

The reduced head count at Wells Fargo is hardly surprising given declining refinancings, but there could be more bloodletting in the months ahead.

The Consumer Financial Protection Bureau this week updated certain provisions in its complex new mortgage servicing rules, most notably the interplay between the servicing rules and the U.S. bankruptcy code, and the Fair Debt Collection Practices Act. “As servicing implementation enters its final phases, we heard from many sources that it was important to address these remaining issues to ensure a smooth transition and provide certainty to the market,” said CFPB Director Richard Cordray. “When mortgage servicers better understand the rules they have to follow, that is better for consumers.” One of the latest hot buttons to emerge regarding the servicing rules has been...