Mortgage brokers who read the guidance said it reveals how little the young regulatory agency understands about the industry. If a broker has the financial ability to obtain a warehouse line of credit...

Will loan production in the second half surprise the naysayers? Will non-QM lending take off? Stay tuned...

As of May, only three of the loans were 30-days delinquent, with the other once-delinquent mortgages having returned to current status or paid off.