Fed chairman Janet Yellen told legislators: “I think it is really very important for Congress to put in place a new system to address GSE reform. I think we still have a system that has systemic risk."

Despite the news concerning a possible sale, PHH’s share price on Wednesday was trading up, but not by much. Its price is still more than $1 below its 52-week high of $26.76.

In a section entitled “Originations: Return to Profitability,” Nationstar mentions “right-sizing operations” to align with volume expectations.

Worried that New York State regulators will throw a monkey-wrench into Ocwen’s mortgage servicing acquisition plans? Don’t be.

Among the changes on the table are disclosing the loan term, total points and fees, the length of any teaser or introductory rate, and the applicant or borrower’s age and credit score.

New York regulator Lawsky raised concerns about the servicing cost-savings long touted by Ocwen, which are achieved via technology and employees largely located outside of the U.S.

Some analysts believe the $200 billion estimate on flow MSR transactions might be a bit low.

Also, Morgan Stanley recently increased its stake in Arch Capital Group to 6.3 percent. Arch owns CMG Mortgage Insurance, which is being renamed Arch Mortgage Insurance Company.

Orange Capital is a private equity firm that has been gobbling up stakes in PHH Corp. over the past year. A few months back Inside Mortgage Finance first reported that PHH might be a takeover target.

According to interviews conducted by Inside Mortgage Finance, Lau’s company, Pingora Loan Servicing, has amassed roughly $10 billion in MSRs in less than nine months.