Some 18 lenders contributed to the security, all of which were disclosed – somewhat uncommon for jumbo MBS.

Among other issues, the GAO found that for three of the servicers, their denial rates were significantly higher for Hispanics than for the comparison population of non-Hispanic whites.

PennyMac had 229 correspondent partners at the end of 2013 and Kurland said the nonbank is looking to work with small sellers.

Is Caliber's parent toying with an IPO for the lender? After all, hedge funds like to “build and flip,” not build and hold forever…

“This situation consisted of sexually charged behavior and comments from the supervisory staff and participating mortgage bankers, which resulted in a sexist and uncivil atmosphere,” the EEOC said of the JPM workplace.

JPMorgan Chase is the dominant holder of non-agency MBS among depositories, accounting for almost 36 percent of the bank investment market.

The rating service singles out Ocwen Financial, Nationstar Mortgage, Walter Investment Management, Quicken Loans, Provident Funding and PennyMac Loan Services, all of which have significantly increased their MSR portfolios.

A veteran player in the jumbo ARM market said one investment bank in particular has “had lots of layoffs.”

New Penn Financial accounted for almost 81 percent of mortgages included in the jumbo deal. In the past, the lender’s originations have been securitized by the affiliated Shellpoint Partners.

“It’s a utility bill refi,” said Kristian Hanelt, a senior vice president of renewable capital markets at Clean Power Finance, which provides financial services to the solar industry.