Mark Garland, president of MountainView Servicing Group, said he likes the product, noting that the timing couldn’t be better: “There are a lot of guys out there who are strapped for working capital,” he added.

All the world loves the CFPB? Not in the mortgage space, it seems. Financial services consultant Joe Garrett said he has six mortgage clients that have undergone exams by the agency. To say the least, it hasn't been a happy experience.

Other firms had more of a jumbo focus. Second-ranked PHH Mortgage reported that 50.0 percent of its originations in 2013 were non-agency jumbos.

A number of lenders said they have put an increased emphasis on jumbo ARMs due to the rise in interest rates that started in May of 2013.

Not only is the spring home buying season beginning to show signs of life, so too is the M&A market for mortgage companies.

When conflicts of interest were unearthed, Aurora terminated the contract in 2012, leaving $28 million in unpaid bills. But Allonhill wanted its money.

FHA lenders reported $8.7 billion in new originations in January, down from $10.9 billion in December and $23.7 billion from a year ago. Most were fixed-rate mortgages and 77.1 percent were purchase transactions.

The Johnson-Crapo bill would subject Quicken and all the other nonbanks to FDIC-like examinations.

One source close to Wornow said he was especially displeased with Morgan’s lack of enthusiasm for non-agency products.

Some 73 lenders contributed to the security. Also, a portion of First Republic’s loans weren’t subject to due diligence reviews, a relative rarity in the new era of jumbo MBS.