At press time, there were reports circulating that one mid-sized nonbank planning to enter the correspondent acquisition market had pulled the plug and laid off staff. The firm is expected to talk to IMFnews Thursday morning.

Once again, the MSR market is heating up. Sources say a REIT may purchase receivables being offered by Flagstar Bancop.

A year ago, mortgage servicing brokers were seeing five or fewer bidders on bulk offerings. Today, 10 or more bidders show up, many of which are nonbanks or have owners that are hedge funds or private-equity firms.

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.