Radian has already paid $632 million to cover loss claims on the Freddie Mac loans through two different payments. It also had set aside $205 million in a collateral account to cover loss mitigation activity.

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.

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.

Commercial banks are earning a ton of dough on residential servicing fees, but nonbanks are seeing an erosion in profits.

With improving loan quality and mortgage repurchase reviews declining, due diligence firms have been under stress the past year.

Some warehouse lenders are offering significant concessions and price breaks to keep their nonbank customers happy.

Paul Rozo, CEO of Paramount Residential Mortgage Group, said his company’s application volume is down roughly 20 percent since rates jumped a few months back, but some of his competitors are seeing declines of up to 50 percent.

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.

A housing lobbyist added that, “Right now it’s a matter of timing. Will in come in October or a little later than that?”

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