Bank and thrift holdings of adjustable-rate mortgages have increased significantly in recent years, according to an analysis by Inside Mortgage Finance, driven in part by originations of jumbo mortgages. Banks and thrifts held $647.42 billion in ARMs in portfolio as of the end of 2013, according to call-report data. The total ARM portfolio increased by 0.7 percent last year, the third annual increase in a row, while the aggregate bank and thrift retained portfolio of first-lien mortgages fell 3.0 percent. ARMs accounted for 37.1 percent of the bank/thrift mortgage portfolio at the end of 2013, compared to just 31.9 percent at the end of 2011. Lenders have to keep generating...[Includes two data charts]

The Johnson-Crapo bill would subject Quicken and all the other nonbanks to FDIC-like examinations.

One source close to Wornow said he was especially displeased with Morgan’s lack of enthusiasm for non-agency products.

Some 73 lenders contributed to the security. Also, a portion of First Republic’s loans weren’t subject to due diligence reviews, a relative rarity in the new era of jumbo MBS.

W.J. Bradley Mortgage Capital announced a number of new jumbo mortgage products this week. Among the offerings is a loan with a 10 percent downpayment requirement for balances of up to $850,000.

There has been talk in the market that JPM would unload some of its “high touch” MSRs this year, but so far brokers that play in the space have reported no scheduled auctions.

Early in the morning, Ocwen’s share price was up almost 3 percent, but by noon had settled down. Trading volume was slightly above average.

Richmond's mayor said the new rehabilitation program can be completed in addition to eminent domain. However, significant opposition to ED from mortgage industry participants appears to have changed how the city plans to implement its latest plan.

An estimated $272 billion of non-agency jumbos were originated in 2013, accounting for 14.4 percent of total production.

For lenders that contribute at least 15 percent of the loans included in an issuance, Fitch said it will conduct an enhanced operational review of the lender’s origination program and underwriting guidelines.