The settlement is the first enforcement action by Acting Director Mick Mulvaney since he took over the bureau in late November.

Verus counts among its competitors Angel Oak, Caliber Home Loans, Citadel Servicing, Deephaven Mortgage and SG Capital Partners.

Tim Anderson of DocMagic: “You either get bigger or head for the exits.”

The highest paid Ocwen director last year was Phyllis Caldwell, who took home $372,649. Caldwell is a former Treasury Department official.

Faris is a 27-year veteran of Ocwen, a publicly traded nonbank launched several decades ago by former GE Capital executive Bill Erbey.

Marano is no stranger to troubled financial service companies. Until 2008, he was a top executive at Bear Stearns...

There are some in the industry who believe the entire subservicing sector is far behind in technology and customer service – and is ripe for a technology disruption of a major kind.

Verus Mortgage Capital is boosting its correspondent acquisition volume by focusing on non-agency mortgages, including non-qualified mortgages. The aggregator was founded in 2015 by Invictus Capital Partners, an investment firm based in Washington, DC.

In 1Q18, MGIC wrote $10.6 billion of new MI policies compared to $12.8 billion in 4Q17 and $9.3 billion in the first quarter of last year.

The way things stand today, those finalists include at least two industry veterans…