One executive familiar with PHH Mortgage said he anticipates that other senior officers may leave shortly. The firm's departing CAO was with the lender for just over a year.

Little else is known about Commerce. The press statement notes that the lender has a “vision of moving forward with a reviving market by offering products backed by a team of professionals with the upmost integrity and knowledge of the industry.”

According to a new research note from Sterne Agee, 65 percent of Altisource’s reported revenue is tied to Ocwen or Ocwen-related companies. “This is a highly symbiotic relationship," writes Stern Agee analyst Henry Coffey.

Nonbanks owned servicing rights on $1.136 trillion of securitized mortgages at the beginning of 2010, a figure that has swelled to $1.906 trillion as of the end of last year.

There has been some speculation that DeMarco might want the CSP CEO job, which pays in the range of $400,000. But many sources we talked to doubt it will happen.

When Fed Chair Janet Yellen was subsequently asked to define what the committee meant by the term “considerable time,” she replied that it is “hard to define” but “probably means something on the order of around six months.”

Mark Garland, president of MountainView Servicing Group, said he likes the product, noting that the timing couldn’t be better: “There are a lot of guys out there who are strapped for working capital,” he added.

All the world loves the CFPB? Not in the mortgage space, it seems. Financial services consultant Joe Garrett said he has six mortgage clients that have undergone exams by the agency. To say the least, it hasn't been a happy experience.

Commercial banks and savings institutions increasingly saw more value in their mortgage servicing rights as 2013 came to a close, but they showed little interest in trying to get more. Banks and thrifts serviced $4.641 trillion of mortgage loans for other investors as of the end of 2013, according to an Inside Mortgage Trends analysis of call-report data. That was down 13.2 percent from the end of 2012, including a 2.7 percent drop in the fourth quarter ... [Includes one data chart]

The long-awaited auction of nonperforming mortgages by HSBC USA appears to be underway, though the bank isn’t providing much guidance on the dollar volume of loans it intends to sell this year. In early March, HSBC held a private auction of roughly $1.2 billion of NPLs, according to investors briefed on the sale. “Only a select group of buyers was invited to participate,” said one source. Rumored bidders include Goldman Sachs and Credit Suisse, among others. A spokeswoman for HSBC ...