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

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...

Freddie had 4,957 full-time employees and 50 part-timers as of Feb. 5, down 2.1 percent compared to a year ago.

Pretium won pools one and two, which have a combined loan balance of $238.6 million.

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

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.

Eventually, the seller may offer $500 million per month in GSE product or $6 billion per year.

On Monday, the Federal Housing Finance Agency published new guidelines to govern nonperforming loan sales by Fannie Mae and Freddie Mac...

Coupled with a recently announced Freddie Mac MSR sale to Nationstar ($9.8 billion), Ocwen estimated the sale of GSE receivables will generate $550 million in gross proceeds.