The transfer of mortgage servicing rights from one owner to another will continue to be a focus for state regulators.

Fitch said ignoring broker price opinions dramatically increased the likelihood of underestimating potential loss severities and results in insufficient credit enhancement.

Ocwen's share price fell 7 percent on the day, moving closer to its 52-week low of $33.54. Its high is a mouth-watering $60.18. In other words, its market cap has been almost halved.

Major contributors to the jumbo MBS include New Penn Financial with a 25.5 percent share, Prospect Mortgage and Prospect Lending with a combined 20.4 percent share and Quicken Loans with a 15.5 percent share.

The TV ad we viewed is so glowing in praise that one might think the GSEs themselves produced it.

A new trade group is showing true love for Fannie Mae and Freddie Mac. Also, the Consumer Financial Protection Bureau is giving lenders some breathing room on the Qualified Mortgage/Ability-to-Repay rule.

One of the boldest underwriting moves was taken by TD Bank, which recently announced a portfolio loan that has a downpayment requirement as low as 3 percent.

The current average interest rate on the mortgages is 3.7 percent. Some 64.3 percent of the loans are structured with graduated payments while the rest are fixed-rate mortgages.

Meanwhile, rumors abound that Fannie and Freddie may once again be looking at the possibility of selling some of its nonperforming mortgages…

Jumbo MBS issuers typically acquire their loans from a variety of sources. However, only three lenders contributed mortgages to each of the four jumbo MBS issued during the first quarter: Guaranteed Rate, PrimeLending and RPM Mortgage.