The FHFA IG job candidate must be able to withstand "moderate to arduous physical exertion involving walking and standing, use of firearms, and exposure to inclement weather."

Analysts at FBR & Co. view the ban as an “earnings issue” because “replacement financing would likely be more expensive than existing financing.”

“The new guys are quickly gaining on the traditional players,” said Ginnie president Ted Tozer. “Some have grown from zero to $5 billion to $10 billion overnight. We’re concerned about their infrastructure and capital.”

The top contributors to the deal are New Penn Financial with a 23.1 percent share, EverBank Financial with 20.3 percent and Quicken with 19.8 percent.

Roughly 75 percent of the loans will come from Georgia and will be top heavy in retail product.

The American Bankers Association believes GSE loan limits in much of the nation could be reduced.

In 2013, Freddie Mac reimbursed its servicers $1.4 billion but identified and denied $126 million in what the IG calls “erroneous” claims.

A number of real estate investment trusts are increasing their presence in the jumbo mortgage-backed security market with conduit programs as well as purchases of subordinate tranches from new MBS. Two Harbors Investment said its jumbo conduit had a pipeline with an unpaid principal balance of $650 million at the end of the second quarter of 2014, more than four times the REIT’s pipeline at March 31. Two Harbors recently issued a $267.67 million jumbo MBS, the first from the REIT this year ...

The Securities and Exchange Commission this week unanimously approved a final rule covering registration and disclosures for asset-backed securities, including new non-agency mortgage-backed securities. The so-called “Reg AB2” measure requires significant changes for new non-agency MBS, including loan-level disclosures and a three-day waiting period before issuing new deals. “The SEC must protect investors in asset-backed securities just as it does investors in any other security ...

Bank of America last week agreed to a record settlement with the Department of Justice and others, largely involving non-agency mortgage-backed securities issued from 2003 through 2008. Officials at the DOJ said the settlement focused on disclosures provided by BofA and its affiliates, including Countrywide Financial, First Franklin and Merrill Lynch, to investors in the bonds. “It’s kind of like going to your neighborhood grocery store to buy milk advertised as fresh, only to discover that ...