But who is the mystery lender that Impac is talking to?

Nationstar, Ocwen, Select Portfolio Servicing and Wells Fargo all need moderate improvement in their HAMP performance.

The key factor is that some mortgage originators, the megabanks especially, are keeping conventional loans in portfolio that might otherwise be securitized by Fannie and Freddie.

The FHA temporary waiver was issued in November of last year and now has been extended to Aug. 31, 2016.

The Conference of State Bank Supervisors is working on capital requirements for nonbank servicers, a story first reported by Inside Mortgage Finance last month.

But there's one little wrinkle: the GSEs cannot pass the cost of funding the HTF onto lenders…

A proposed FHA administrative fee as high as 4 basis points to fund quality assurance enforcement and technology upgrades also went down in flames.

Rep. Ed Royce of California: "Money coming in from the GSEs should go to the taxpayers instead of a slush fund for ideological housing groups to play around with.”

New Penn also reorganized its origination channels, consolidating wholesale and correspondent, while adding a mini-correspondent business line.

According to Inside Mortgage Finance, among the top 15 jumbo originators eight are nonbanks.