Freddie and Fannie both posted earnings north of $2 billion for the fourth quarter. But Freddie posted a net loss of $475 million in the third quarter of last year after booking a stunning $4.17 billion charge on its derivatives.

The inability of Fannie and Freddie to build capital is a huge issue, Stevens said.

One analyst told IMFnews: “I don’t stay up until four a.m., trying to figure out Ocwen anymore.”

In the new “Mortgage Professional’s Handbook,” residential finance technology expert Jeff Lebowitz predicts the industry “is about to exit its Victorian era of technology use."

Ocwen continues to face regulatory issues, including constraints on growth via acquisitions. However, Fitch recently upgraded a number of the firm’s servicer ratings from a level 4 to a level 3-minus with a “stable” outlook.

As IMFnews went to press Monday, investors were once again punishing the stock, with shares trading down 20 percent on the day to $4.95. Its all-time high is $60 a share.

Ditech increased its servicing portfolio to $266.7 billion from $265.4 billion in 3Q, and said it is pursuing “potential business opportunities,” including plans to pursue more subservicing contracts.

Eric Kaplan of Ranieri Strategies noted that many investors in non-agency MBS wish to remain anonymous.

Among other things, the attorneys will represent clients in supervisory matters before the Consumer Financial Protection Bureau...

Ocwen's goal: to be a “world-class” company. But investors need convincing. Its stock is down 92 percent from its all-time high.