STI has been making crazy money during the refi boom. And will continue to do so. They have consolidated (and yes screwed many employees) operations - the buyback reserve fund wont be dented as you can expect few buybacks from fnma fha. Whether I like the company personally or not is the question. I just think the company is in a great position to make money right now. Yes, its a rigged game - large portion already played - how much do you think STI makes on a simply 200k refi? Its huge. Buybacks? Please, no one can get anything done unless its squeeky clean. Remember buybacks occur when the note is sold to the agencies and deemed unworthy - believe me every file the agencies get is aces. Strong conservative buy in my estimation.