Some 61 percent of mortgage executives believe lenders are overly restrictive with underwriting standards.

As one West Coast-based mortgage executive told IMFnews: “It can be a very tough space. You need lots of capital."

At the same time, the market share of GSE business has been redistributed toward the smaller lenders.

Just because a GSE uses a third-party vendor to assess the risk of seller/servicers as counter-parties that doesn’t mean the GSE – or their management – is off the hook if something goes awry.

At 7.59 percent, the hedge fund is now the third largest institutional investor in PHH.

Prospect Mortgage is the top contributor to the deal with an 11.2 percent share of the collateral.

According to figures recently compiled by RealtyTrac, 26,947 single family homes were flipped nationwide in the third quarter.

On a year-to-date basis, GSE refi securitizations were down 68.6 percent at the end of October.

The deal marked a shift for EverBank – the bank typically retains its jumbo ARM originations in portfolio.

The three biggest servicers in the group – Wells Fargo, JPMorgan Chase and Bank of America – all reported significant declines in servicing income.