“If something goes wrong, Ocwen will be on the hook,” said this source. “But it’s really clean stuff.”

Although George Ellison’s salary was not disclosed in the press release announcing his employment with the company, a subsequent filing provided details: $450,000 per year, another $450,000 in incentive bonuses...

Ginnie is currently managing TBW’s FHA portfolio and hopes to sell its Ginnie servicing rights sometime this year.

Bank of America was among the few major depositories that reported a loss in mortgage-banking income, losing $253 million in the fourth quarter.

With little non-agency MBS issuance, Collingwood noted that it’s difficult to accurately price credit risk.

The identity of the bank could not be confirmed at press time...

Meanwhile, Ocwen watchers are scratching their heads over a fourth quarter goodwill charge that eventually could reach $420 million...

For all of 2014, this group of banks and nonbanks earned $14.01 billion off of mortgages, a 39.6 percent drop from the year before.

A spokesman for Ocwen declined to comment on the “controlled liquidation” characterization and could offer no time table on when the lender/servicer might release its fourth quarter results.

Nationstar is 74 percent owned by hedge fund giant Fortress Investment Group.