Wells Fargo late this week cut an additional 925 mortgage full-timers from its payroll while SunTrust Mortgage trimmed 800 positions.

Shellpoint Partners downsized and restructured a jumbo MBS it initially planned to sell in September.

More than one in five loans originated today won’t satisfy the criteria for safe harbor legal protections as qualified mortgages under the ability-to-repay rule from the Consumer Financial Protection Bureau, according to an analysis by ComplianceEase.

In the third quarter of 2013, Wells Fargo sold a mere $8.4 billion in residential mortgages to Freddie Mac, a 71.3 percent plunge in volume from the second quarter, and a figure that represents just 17 percent of what the nation’s largest lender sold to Fannie Mae.

The QM Plus option would be limited to loans secured by a principal dwelling. No subordinate liens would be permitted for purchase-money transactions.

However, according to figures compiled by Inside Mortgage Finance, the U.S. subsidiary of the Canadian-owned bank doesn’t even rank among the top 30 lenders, at least not yet.

The reduced head count at Wells Fargo is hardly surprising given declining refinancings, but there could be more bloodletting in the months ahead.

For the nation’s three largest originators of home mortgages – Wells Fargo, JPMorgan Chase and Bank of America – the third quarter of 2013 turned out the way most observers expected, with slumping production, less revenue and tighter profit margins. The three major lenders, which accounted for almost 30 percent of loan originations in the first half of the year, saw big drops in refinance volume. Although they all unveiled plans to cut thousands of mortgage jobs, efforts to trim expenses did not come fast enough. Wells Fargo said...

Barry Habib, chief market strategist for RFC, confirmed that the privately held nonbank has closed branches but offered up few details.

Bank of America's mortgage business appears to be profitable but only if you exclude its legacy business.