Meanwhile, smaller mortgage lenders that do not have delegated underwriting authority are reporting delays on getting loans closed.

The CMC letter follows one sent last night by 15 housing and mortgage-related trade groups to Acting FHFA Director Edward DeMarco, asking him not to lower the GSE loan limit, while questioning the legality of such a change.

ABA will send FHFA its own letter on GSE loan limits. Meanwhile, CFPB finds two mortgage bankers over RESPA violations.

Peters Sack of Credit Suisse said the bank portfolio bid is currently much stronger than the economics for issuing jumbo MBS.

PHH is the latest top ten-ranked residential lender to unveil mortgage layoffs. The workers were given 60-days notice.

Wells Fargo and Bank of America rank first and second, respectively, among bank home equity lenders, according to exclusive rankings from Inside Mortgage Finance.

What if the U.S. government actually defaults on its debt – what would that do to the value of MBS and Treasuries held on the balance sheet of banks? You may not want to know the answer.

The top five FHA funders – Wells Fargo, Quicken Loans, Freedom Mortgage Corp., Bank of America and Flagstar Bank – saw their combined originations decline by 5 percent.

In light of the court decision in the overtime pay case, the government must either appeal to the U.S. Supreme Court or start a formal rulemaking process to withdraw the 2006 opinion.

Industry advisors and lobbyists hope they can move the implementation date for lower GSE loan limits deep into the second quarter, but they also realize they cannot forestall it completely.