An East Coast-based warehouse executive, requesting anonymity, said he has approached his credit board about such a change, and his waiting to hear back from them.

Only about 27.7 percent of Ginnie Mae first-quarter volume were refinance loans, and the refi share of the overall market fell to an estimated 44.3 percent, Inside Mortgage Finance found.

About 2 percent of mortgages actually go through a Fannie Mae or Freddie Mac quality control check.

Retail lending, which includes traditional loan-origination offices and consumer-direct operations, was down 60.0 percent from the first quarter of last year, slightly worse than the 58.0 percent downturn in the overall market.

Seven lenders reported net losses during the first three months of 2014, but 12 of the firms showed stronger results than they had in the fourth quarter of 2013.

The negative results on residential production mean more lenders are relying on servicing rights to carry them through the tough times.

There is a tradeoff between taking on more higher-risk loans and raising g-fee prices, FHFA official Bob Ryan noted, and the calculation has to take into account other players in the market, such as the FHA.

S&P rated seven of the 11 non-agency MBS issued in the first three months of 2014, or 78 percent based on dollar volume, according to Inside MBS & ABS.

Neither Fannie Mae nor Freddie Mac is changing its quality-control review policies for now.

All seven active mortgage insurance companies reported a total of $31.34 billion of new primary insurance written during the first quarter, according to calculations from Inside Mortgage Finance.