The biggest decline in MI-insured business was in underwater mortgages that were refinanced while keeping their existing coverage under the Home Affordable Refinance Program.

Will the Ocwen-Wells MSR deal ever get approved? In time, but...

“A few groups have taken a walk through the offices in Cherry Hill,” said a source close to PHH. “People are starting to notice – and leave.”

Another suggestion is to increase the $100,000 threshold for “smaller loans” to $200,000 allowing for mortgage amounts beneath that level to be subject to more workable points-and-fees limits.

Why doesn’t the MBA, NAHB and National Association of Realtors just come out and say what they really mean, which is this: Leave Fannie and Freddie alone, return them to their shareholders and they’ll never buy another ALT A or subprime mortgage again.

The resulting lender, which will keep the Ethos name, plans to start originating qualified mortgages in the second quarter of 2014 and non-QMs by the end of the year.

Committee Chairman Jeb Hensarling, R-TX, cited a letter from a mortgage banking constituent who said his company is being forced out of the residential lending business because of the cost and complexity of regulatory compliance.

New York regulators want to know whether the additional costs will be passed onto consumers. Ellie Mae is not commenting.

In general, many mortgage firms that make loans on vacation homes want a downpayment of at least 20 percent.

Meanwhile, Ocwen’s board recently increased the maximum bonus amount for senior level executives to $3 million per year from $2 million.