The Ginnie II program now accounts for up about 98 percent of new agency issuance.

Sources close to the matter noted that Ocwen is involved, but it’s not a trade group.

The Treasury Department will have a key role in developing a $1 billion "test" non-agency security.

At the top of the heap was the Federal Reserve, which boosted its agency MBS portfolio by 3.8 percent during the second quarter.

The megabanks also decreased their use of interest rate reductions on loan modifications...

In its rebuttal, FHA argues that if the delinquent loans had not been worked out, lenders would have been entitled to $5.2 billion of insurance claims – money the MMIF could ill afford.

In other words, mortgage banking is now supposed to be a “sure thing” where no one – and we do mean no one – takes on risk or fails. Ever.

The increase in mortgage debt outstanding in the third quarter of 2013 increasingly looks like an aberration rather than a turning point.

In the non-QM space, Lake Sunapee Bank serves a large number of self-employed borrowers, medical professionals, high net-worth retirees, and first-time homebuyers.

Skyline declined to name the company’s non-QM investor. “We have an investor who has created a shelf,” is all the CEO would say on the topic.