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..."

Roughly 4,100 people have registered to attend the annual convention of the Mortgage Bankers Association, which launches Sunday night in Power City USA.

U.S. prosecutors estimate that Fannie Mae and Freddie Mac lost almost $850 million (gross) from Countrywide's "Hustle" program. However, at the time, BofA didn't even own CFC.

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.

Speaking at the Bipartisan Policy Center in Washington Thursday afternoon, FHFA Acting Director Edward DeMarco gave no hint how much of a reduction might be in store. He also took no questions from the audience.

Marc Savitt, president of National Association of Independent Housing Professionals, a broker/appraiser trade group, noted that the short-term outlook for the sector looks difficult.

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

CashCall, a refi specialist that sells most of its production to Fannie Mae, is shedding a large chunk of its staff.

A few years ago, industry veteran Bill Dallas wasn't so crazy about loan brokers. But he has apparently changed his mind.