In a rambling, 6-page letter sent to the GSE’s board, Fairholme Managing Member Bruce Berkowitz claims Fannie Mae’s equity securities are now valued by the market at $36 billion.

In an interview with IMFnews, Habib confirmed his resignation, but declined to say anything further about the company’s future.

The ATR survey was sent to 53 mortgage-originating entities, mostly mortgage bankers with some independent mortgage brokers and other originators. No credit unions or savings and loans responded.

What does the seller of the MSRs think about what's going on with the DFS? A spokesman for the nation's largest lender and servicer told IMFnews: "Wells Fargo has not been a party to any discussions with the New York Department of Financial Services regarding Ocwen."

In a heavily redacted draft memo released to the public, the Inspector General of FHFA found that while the agency had reviewed and examined the GSEs’ executive compensation, it did not keep close tabs on "non-executive senior professional compensation practices."

Of course, Ocwen is hardly alone when it comes to having a large overseas mortgage workforce. Wells Fargo and Nationstar, we’re told, also have decent sized back office operations in India…

So, mortgage firms are reducing “overlays” and expanding credit to borrowers in need. Right? Not necessarily.

Although some regulators have anxiety problems with nonbank servicers, Fannie Mae apparently does not. Meanwhile, a large mortgage vendor M&A deal could be revealed late Friday.

Matt Monahan is expected to aid HL as it tries to take advantage of a red hot market for servicing sales. A former deal maker at Cohane Rafferty Securities, he will beef-up HL’s mortgage sales force.

Mortgage companies with back-office operations overseas don't have to worry about the CFPB examining their off-shore staff, at least not anytime soon.