In a conference call with reporters Friday morning, Fannie CEO Tim Mayopoulos noted: “While we expect to remain profitable on an annual basis for the foreseeable future, due to our declining and limited capital reserves and the potential for significant volatility in our financial results, we could experience a net worth deficit in a future quarter.”

Fannie Mae CEO Timothy Mayopoulos is setting the table for challenging times ahead, issuing caution about the GSE’s dwindling capital position…

One former Fannie Mae official told us that stellar profits posted by the two are “just about done.”

When Freddie makes that next “dividend” payment, its “account surplus” with Treasury will total $34.6 billion: federal assistance of $71.3 billion since September 2008 versus dividend payments of $105.9 billion.

Over the past two years, PHH has lost $347 million, much of it caused by a private-label origination model that has fallen on hard times and rapidly declining interest rates…

In a few weeks, almost all of that profit will be swept into the coffers of the U.S. Treasury, which supported the GSE during its money losing years...

While most banks are running away from the business of servicing home mortgages, BB&T appears to like the space...

“Anytime you have rates run up by 50 basis points, it usually takes about 90 days before a washout begins,” said one mortgage advisor.

Walter Investment/Ditech has yet to establish a date for the release of its fourth quarter results…

It’s unclear at this point what the takeover might mean, if anything, for Nationstar, whose own share price has rallied the past few months.