Just how healthy is the residential mortgage business these days? Answer: Fannie Mae and Freddie Mac are swamped with seller/servicer applications.

It appears that Home Loan Servicing Solutions, a buyer of residential servicing rights, is making money hand-over-fist.

The Federal Housing Administration recently auctioned off $2.2 billion of nonperforming mortgages, getting about 45 cents on the dollar.

It appears that Fannie Mae is dialing back on its plan to sell nonperforming residential loans.

Four non-management directors at Nationstar Mortgage earned almost $1.5 million last year. Meanwhile, it appears Flagstar is selling some of its MSRs.

The market for residential servicing rights is picking up a full head of steam with several packages out for bid.

Now that Fannie Mae and Freddie Mac are earning a ton of money, who will have a say over what happens to that cash?

The bulk servicing market is beginning to generate heat. The latest offering comes from Interactive Mortgage Advisors, but other deals are in the works as well.

Wells Fargo has unloaded most of - but not all - of its remaining servicing rights tied to reverse mortgages. However, the bank says it is still "committed" to seniors through home equity loans.

More than 10 bidders showed up for a recent auction of new Fannie Mae servicing rights, a sign that the MSR market is getting hot.