Although there are only a few weeks left in 2013, a few large mortgage servicing deals may get done yet.

Due diligence was completed on 33 percent of the loans by American Mortgage Consultants. The firm found compliance exceptions regarding Truth in Lending Act requirements, right to cancel and HUD-1 forms.

Kroll Bond Rating Agency late this week released proposed criteria for rating non-QMs, making it the second rating service to formally seek comments on such criteria.

A new type of subprime lending may be emerging and Ocwen Financial hopes to be a trailblazer.

In other subprime news, industry veteran Jon Daurio was recently in New York talking to potential investors about his new nonbank venture, Nikkael Capital Corp.

The jumbo market accounted for 16.7 percent of total mortgage originations during the third quarter of 2013 and was much stronger than other sectors.

The civil action entails the alleged taking from WJB of some 5,000 loan files. It should be noted that these aren’t just any LOs – the group in question ranks among the top producers in the nation.

Some 33 mortgage lenders contributed loans to the new jumbo MBS led by Guaranteed Rate with a 9.3 percent share.

At a Senate Banking Committee hearing, Sen. Robert Menendez, D-NJ, criticized FHFA Acting Director Ed DeMarco for his plan to reduce both the conforming loan limit and the high-cost limit.

Tom Popik, research director of Campbell Surveys, said buyers have a number of incentives to pay with cash. “You get about a 10 percent discount on the purchase price,” he noted.