“Rather than earning on the front end, they’re increasing margins on the secondary sale," said mortgage analyst Ken Richey.

The market for large "legacy" MSR deals appears to be ice cold. Then again, last week there were rumors that a $50 billion transaction might be in the works.

Mortgage REITs found a cheap source of funding in the Federal Home Loan Bank system. But will the FHFA permanently block their access or just restrict it?

Credit unions that originate no downpayment mortgages almost always keep the loans in portfolio.

We talked a handful of wholesalers and were told the figure is much lower – in the range of 2.2 percent to 2.5 percent. Broker-sourced loans account for less than 10 percent of all loans funded today,

But do Fannie and Freddie really represent a faulty business model, as the White House and Treasury Department keep declaring?

In other mortgage-stock news, Ellie Mae Co-founder, Chairman and CEO Sig Anderman has been exercising stock options of late, and selling shares in the company.

On the non-QM front, Bayview will go as high as $1.5 million, but the loan-to-value ratio is capped at 80 percent.

Every buyer has a different definition of "reperforming," but generally the loan must be current for at least 12 months.

The Financial Stability Oversight Council of the Treasury Department has its eye on the rapidly growing market presence of nonbank servicers such as Ocwen, Nationstar Mortgage and Walter Investment Management.