Despite growth in the non-agency jumbo market, primary market lenders remain focused on production that they can safely securitize through the GSEs and Ginnie Mae.

Terry Edwards has received high marks for his accomplishments at Fannie Mae. But can he get the CSP off the ground?

Bulk offerings of mortgage servicing rights, even new production, are now plentiful.

Mortgages banking firms are still in demand, but pricing may fall. And at Wells Fargo, it's jumbo rates remain cheaper than GSE rates.

At $20.7 billion, non-agency pass-through MBS accounted for just 1.4 percent of total bank and thrift MBS investments.

Lew Ranieri's company, Shellpoint, is coming to market with its second jumbo MBS deal of the year.

Wall Street believes that housing/GSE reform legislation should provide for the creation of a single agency MBS.

There are signs that residential lenders are willing to accept slightly more credit risk, said one mortgage vendor.

Wells Fargo, JPMorgan Chase and Flagstar are all working on large servicing deals, but as sellers. Meanwhile, HUD is worried about lower GSE loan limits.

Large parts of the Bay Area and Southern California qualify for the top high-cost limit, while other California markets such as San Diego ($546,250) and Sacramento ($474,950) have intermediate high-cost limits.