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

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…

Some 14 percent of Green Tree’s $196 billion servicing portfolio is subject to the national servicing settlement, according to Fitch.

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.

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

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?

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