Is Ed DeMarco unimpressed with Fannie and Freddie's return to profitability? “…we should keep the recent reports of positive net income in perspective,” he told the audience of the Bipartisan Policy Center this week. “Much of it has been related to one-time adjustments..."

A senior executive at Residential Finance Corp. confirmed that the company’s chief financial officer Nick Hahn left the lender/servicer last month, but has since been replaced.

But there was good news from Cole Taylor Mortgage as well. The company’s servicing portfolio is up to $16 billion in receivables.

Flagstar has finally admitted that it's close to selling a ton of MSRs. But if you want details, don't hold your breath.

According to one servicing advisor, large banks – including Wells Fargo – have been quietly selling excess servicing rights through private securitizations.

One mortgage recruiter noted that job losses in somewhat rural communities can be a big problem for workers. “Sometimes they’re the largest employer in town and there’s nowhere else to go,” he said.

Golf is for slackers. Inside Mortgage Finance knows of at least four veteran mortgage banking executives who, after “retiring,” are looking to reenter the business.

The secondary market for mortgage servicing rights is red hot and shows no signs of slowing, even with the government partially closed.

The most important take away from this week’s loan limit reduction news: Congress warning DeMarco that he’d better defer to them on loan limits. His reply: radio silence. Meanwhile, Wells tosses Freddie overboard, sort of.

A company owned by Lone Star appears to have won the bid on Flagstar MSRs. Meanwhile, MountainView hits the market with a new deal.