Some warehouse lenders are offering significant concessions and price breaks to keep their nonbank customers happy.

HUD eliminated the standard 30-year, fixed-rate HECM in April because the default rate on the loans was about four times that of a non-HECM regular mortgage.

Paul Rozo, CEO of Paramount Residential Mortgage Group, said his company’s application volume is down roughly 20 percent since rates jumped a few months back, but some of his competitors are seeing declines of up to 50 percent.

The FDIC will raise the question of a 30 percent downpayment but don't expect to see it in the final QRM rule.

Just one nonbank, PHH Mortgage, ranked among the top ten originators of jumbo loans in the first-half. Guaranteed Rate ranked 12th and Quicken 16th.

The trend toward private MI is likely to continue in anticipation of the FHA Solvency Act of 2013, which is awaiting action on the Senate floor.

A housing lobbyist added that, “Right now it’s a matter of timing. Will in come in October or a little later than that?”

In May, Sen. Bill Nelson, D-FL, flagged the disturbing consumer credit reporting practice of lumping a short sale within the same industry code as a foreclosure in consumer credit reports.

The collateral backing the new Redwood bond is exclusively 30-year fixed-rate loans without interest-only terms.

FHA is seeing its cash reserves increase more than expected. Meanwhile, yet another mortgage vendor is laying off workers.