In general, the OCC doesn't like the idea of banks funding loans with LTV ratios above 90 percent unless the mortgage has appropriate credit support...
Quicken said it "will evaluate all bids once received and make the decision to partner with one or two providers. Our plan is to reevaluate this process regularly."
During the subprime boom, HSBC owned Household Finance, a once-top ranked subprime lender and servicer that was later cited for lending and servicing violations.