Bad news for Nationstar and Ocwen? S&P said downgrades on servicer-advance ABS are possible because the analysis that accompanied ratings on certain deals didn’t consider subordinated interest amounts as part of the ratable promise.

In 2013, nine firms issued jumbo MBS. In the past two quarters, the only issuers of jumbo MBS were Credit Suisse, JPMorgan Chase and Redwood Trust.

Roughly 2 percent of depositories said they will cease offering mortgages altogether because of the Consumer Financial Protection Bureau’s ability to repay rule and QM standards.

Did the FHFA late last summer/early fall raise concerns regarding a certain nonbank servicer’s capital in regard to a huge portfolio of mortgage servicing rights that it had bought earlier in the year from a megabank?

The terms of the MBS settlement are subject to approval by the Federal Housing Finance Agency due to Freddie Mac’s involvement.

Will the Ocwen-Wells MSR deal ever get approved? In time, but...

The resulting lender, which will keep the Ethos name, plans to start originating qualified mortgages in the second quarter of 2014 and non-QMs by the end of the year.

“When a servicer recognizes losses on loans previously modified with forbearance, it could significantly impact cash flows across the capital stack,” writes Bank of America Merrill Lynch.

The tranche set to receive an 'A' rating on STACR 2014-DN2 has a lifetime expected default rate of 9.43 percent, according to KBRA.

Borrow short and lend long? Is there a problem with that? Don't tell that to Jamie Dimon of JPM.