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Wireless digital home environment is now a trend to remove the unnecessary wires between different entertainment devices. To serve the multiple client and multiple video source request, a new video compressor for loss less and near loss less compression is one of the major components achieving wireless mobile, multiple access home entertainment system. Among loss less compression system, JPEG 2000 realizes SNR and size scalable loss less image compression, and video is also compressible via motion JPEG 2000 extension. This work presents a new loss less compression codec, the multiple source oriented scalable video compressor. Two important components from JPEG 2000 are extracted, namely LDWT and MQ-coder. According to the probability analysis, two pass quality driven bit plane sequencer is presented. A complete flowchart is constructed to conclude the proposed work. Quality driven magnitude refinement is also proposed to optimize the SNR scalability. According to the experiment results, the computation time of proposed work is almost one third of open JPEG (JEPG 2000) while the compression ratio is only 0.07 behind. According to the results, a computation-efficient size and SNR scalable codec is concluded.