Keep an eye on Rep. Katie Porter, the freshman Congressman from California…

The appointment is effective February 4...

Should the White House have picked one of three deputy directors instead?

One of those powers, according to the filing, is: “The adoption of an agreement of merger or consolidation or the adoption of a certificate of ownership or merger.”

Given Calabria’s past statements about the GSEs, some Democrats believe he isn’t the best person for the job…

The White House: “Housing finance reform is a priority for the administration … At this time, no decisions have been made on any reform plan. As part of the process, however, the administration will work with Congress…”

So much for administrative reform of Fannie and Freddie...

And although trendlines varied significantly among the top-ranked processors, the overall migration of GSE servicing to nonbanks continued last year.

Currently, Fannie and Freddie are allowed to maintain a maximum capital cushion of $3 billion each. Anything above that amount is swept into the U.S. Treasury. …

New Rez’s MSR haul: $50.9 billion of agency product...