Fairholme still owns a ton of GSE stock. At press time Wednesday, Fannie common was trading at $4.77. The most Fairholme ever paid for Fannie common was $2.07. Sweet…

Treasury and the FHFA not only acted “arbitrarily and capriciously” in executing the Third Amendment to the Preferred Stock Purchase Agreements with the GSEs, the agencies ignored “salient data,” including Fannie’s and Freddie’s tens of billions of dollars in deferred tax assets.

Some in the industry are concerned that HAMP interest-rate resets, which begin later this year, could cause defaults on modified loans to increase, lowering the number of successful modifications under the program.

Sources contend that at least two nonbanks have undertaken due diligence of PHH Mortgage, but so far a deal has been elusive.

It’s no secret that aggressive mortgage banking firms are recruiting top executives and loan officers away from other firms. One of the busiest recruiters that we know of its Mortgage Master of Walpole, MA.

The $75 million in financing includes $50 million from a Wall Street firm and a $25 million line from a California commercial bank.

The researchers confirmed that homebuilder originations from 2001 through the end of 2008 tended to go to lower credit-quality borrowers compared with originations from unaffiliated lenders.

If you take away all the one-time gains at Fannie Mae and Freddie Mac, the two are barely profitable. Right?

A spokesman for Caliber Home Loans said that many of the lender’s non-agency mortgages will be non-QMs.

One warehouse executive, speaking under the condition his name not be used, said “Luckily for us, compared to January, things are great.”