“Sadly, the impact of QMs [qualified mortgages] will never been quantified since most LOs will not originate borderline loans,” said New Jersey broker Brian Benjamin.

Analysts point out that bank earnings have suffered less than revenues, and many institutions responded quickly by downsizing their mortgage operations, although these cost-cutting efforts won’t show up in expenses immediately.

Although the Wells Fargo-Ocwen MSR transfer is still on hold, other institutions continue to trim their mortgage servicing portfolios.

Outside of CitiMortgage and SPS, no other servicers received one-star ratings on the seven metrics tested for the Treasury in the first quarter of 2014.

The number of mortgage companies in California rose 7.8 percent on a sequential basis. Nationwide, there are 392,896 federally registered mortgage loan officers…

Miller said the GSEs' profitability also is "driven by income from their retained portfolios, which benefit from being funded through Treasury capital support at low rates the private market cannot obtain."

Other “fair servicing” issues have to do with fee waivers and discretion in loss mitigation.

Fannie and Freddie: They keep earning money but in the eyes of the FHFA, large risks still remain.

Spot loans are currently prohibited, but the agency is said to be reevaluating the product because of reports of first-time homebuyers having difficulty in obtaining FHA financing for condo unit purchases and seniors seeking reverse mortgages to tap the equity in their units.

Bank of America continued to report the largest volume of repurchases with $261 million in the first quarter.