As a technical matter, Edward DeMarco still heads FHFA and the agency is once again testing the waters for lower Fannie Mae/Freddie Mac loan limits.

The Mortgage Bankers Association and other trade groups are hopping mad at FHFA's latest December surprise: higher LLPAs.

Ed DeMarco of FHFA pulls a 'Beyonce' with the higher LLPAs. Meanwhile, we're hearing that Met Watt may be sworn in by early January.

Compared to June 30, MBS investments by REITs are off 6 percent. Moreover, the industry has lost nearly all of the huge volume of MBS that were acquired in early 2012.

Wells, Bank of America and JPMorgan Chase accounted for a combined 44.7 percent of the $517.75 billion in bank HELOCs outstanding at the end of the third quarter.

Advisors note that Walter should be concerned that it has a large MSR portfolio – $194 billion at Sept. 30, according to figures compiled by Inside Mortgage Finance – but a relatively small origination platform.

“In our view, the primary risk associated with some lenders being less than fully prepared for QM could be temporary loan production delays,” the consulting firm adds.

CashCall, once a top ranked refi specialist, is owned by mortgage industry veteran Paul Reddam.

Loan broker Anne James, who runs Reliance Funding in Wittier, CA, told us recently that “I have wholesale lenders calling me daily to sign up.” She notes, however that “Loans are not dropping out of the sky” but adds that she’s getting quite a few calls for second mortgages.

Among other things, the FHFA wants to know if six-months is adequate time for lenders and servicers to make the changes to their technology systems.