As reported by IMFnews late last week, Stewart Title is buying Allonhill, a due diligence firm based in Denver. Meanwhile, look for billions of dollars in NPL sales soon.

Many mortgage firms are hoping that a huge surge in purchase-money deals will compensate greatly for the declining refi market and that layoffs at their shops will be avoided.

A title insurance firm is taking a close look at due diligence provider Allonhill. Meanwhile, mergers and acquisitions in the residential finance industry could explode.

Warehouse lending executives say they are seeing their nonbank clients earn less money this summer, but noted that profits are still strong by historical levels.

FHFA has been analyzing approaches for reducing Fannie Mae and Freddie Mac loan limits across the country, "and any such change would be announced with adequate advance notice for implementation on January 1, 2014" the regulator said.

The FDIC will raise the question of a 30 percent downpayment but don't expect to see it in the final QRM rule.

FHA is seeing its cash reserves increase more than expected. Meanwhile, yet another mortgage vendor is laying off workers.

Just how brutal will this mortgage correction be? One thing's for certain: loan officers with close ties to Realtors and builders will be golden.

A spokesman for Wells Fargo told Inside Mortgage Finance that “most of the displacements were on the fulfillment/processing side” of the business and did not include loan officers.

When LoanDepot and imortgage.com merge don't expect any layoffs to occur. Meanwhile, speculators are shorting PHH's stock.