Apollo isn’t buying Select Portfolio Servicing from Credit Suisse; FHA seeking suggestions for changes to rehabilitation program; Hsieh’s fishing dream; mortgage fraudster sentenced to 10 years in prison.

The MSR sales market is starting to firm up a bit — and just in time. A handful of large packages are available, including two from Wells Fargo and one from a large nonbank. But will these deals get done?

The National Consumer Law Center has called for flexibility in FHA’s property charge loss-mitigation policies, among other changes.

Delinquency rates are rising and many observers expect a mild recession this year. Nonbanks continue to grow their share of agency MSRs while banks build whole-loan portfolios. (Includes three data charts.)

The servicing side of residential finance, in particular processing fees and MSR sales, has saved many a lender from the abyss during the correction of the past year. But it hasn’t been a complete joyride. Rising personnel costs and technology expenditures are a concern.

Commercial banks continue to look sideways at the residential lending business, wondering why they should be in it at all. Some are getting out while others are scaling back significantly.

Servicers of FHA-insured loans have until April 30 to implement the revised loss-mitigation program.

Bids for MSRs are declining, prompting worries among some sellers. Those holding servicing also face the possibility of an increase in delinquencies and advancing responsibilities.

Wells Fargo is no longer in love with the mortgage business. We all know that, but is the bank contemplating large-scale sales of its massive MSR portfolio? Not likely.

The regulator of Fannie and Freddie wants the enterprises to pay close attention to the asset values their customers are placing on their MSR portfolios. Meanwhile, the mortgage company IPO market is dead. Right?