CFPB Director Richard Cordray believes the mortgage industry overreacted on the issue...

Some 71 lenders are contributing loans to the deal, led by Stonegate Mortgage with a 6.9 percent share.

The new non-agency security has credit enhancement of 49.9 percent on the top-rated tranche.

The evidence is somewhat suspect because as the analysts noted, the 43 percent cap on DTI ratios for QMs doesn’t currently apply to the FHA, VA or GSE mortgages.

Ocwen has so many workers in India that it hedges its risk against the currency there, the Rupee.

“It was a great channel for some time, but the competitive landscape is expanding rapidly,” said one executive at the company.

Most of Ocwen’s back-office workers are overseas in India and the Philippines where call center workers make much less than their U.S. counterparts.

Loan officers, it seems, are more willing to work on agency-eligible mortgages because they know the transactions have a good chance of closing, but non-QMs are a different matter.

Despite the 90 percent estimate offered by Applegate, the government-sponsored enterprises’ use of the CSP – let alone the GSE single security – looks to be a ways off.

PHH Mortgage – which handles originations for a number of financial firms on a private-label basis – was the largest IO lender in the nation with $7.19 billion funded during the first half.