Michigan Mutual is the latest mortgage lender to announce cut-backs in its processing staff.

Look for an update late Thursday on the sale of Cole Taylor Mortgage. Meanwhile, does anyone care that credit unions are holding 30-year jumbo mortgages in portfolio?

America’s Homeowner Alliance said it will defend low downpayment loans and the mortgage interest deduction.

Carrington Mortgage is in the market to buy residential servicing rights. Meanwhile, the mortgage application losing streak has ended.

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.