It is unclear exactly when Jay Memmott left Seterus.

In other mortgage-stock news, Ellie Mae Co-founder, Chairman and CEO Sig Anderman has been exercising stock options of late, and selling shares in the company.

Jumbos for borrowers with strong credit profiles present banks with limited risks – particularly adjustable-rate mortgages – and the loans offer lucrative opportunities to cross-sell other products.

Others believe thesecases could have a chilling effect on FHA lending to the detriment of first-time homebuyers and borrowers with insufficient cash for a downpayment.

On Fannie Mae and Freddie Mac mortgages with private mortgage insurance, average closing times declined to 42.5 days from 46.0 days.

On the non-QM front, Bayview will go as high as $1.5 million, but the loan-to-value ratio is capped at 80 percent.

Every buyer has a different definition of "reperforming," but generally the loan must be current for at least 12 months.

The Financial Stability Oversight Council of the Treasury Department has its eye on the rapidly growing market presence of nonbank servicers such as Ocwen, Nationstar Mortgage and Walter Investment Management.

Although the FHLB-Chicago will facilitate jumbo purchases with Redwood, any FHLB member across the nation can upstream product to the REIT.

RBS, which is effectively owned by the British government, still faces liability in private label security (PLS) matters tied to Greenwich Capital, a U.S. subsidiary that at one time was the largest nonprime issuer in the nation.