Notably absent from Watt’s first major policy speech as FHFA director last month was any mention of the housing trust funds.

Western Asset Management has a "ton of fire power" when it comes to buying non-agency mortgages, said one source.

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.

The “arm’s length transaction” policy of Fannie Mae and Freddie Mac prohibit property sales to non-profits that resell to the original homeowner.

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.

Zach Oppenheimer, a senior vice president at Fannie Mae, said it’s a positive development that more private capital is coming into the mortgage servicing space.

Former Treasury official Jim Millstein argues that taxpayers “stand to make an enormous profit” if the two are allowed to recapitalize, restructure and eventually are sold to “back to private investors.”

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