Ocwen’s counsel includes Goodwin Procter LLP, which also is representing PHH Corp. in its legal battle against the agency…

Fitch notes that New Residential Investment Corp., a publicly traded REIT, owns $118.7 billion in servicing rights that are being subserviced by Ocwen.

The company adds: “Under these circumstances, Ocwen has a responsibility to its customers, shareholders, and employees to vigorously defend the company.”

The Sterling loans tend to have tighter underwriting characteristics than Caliber’s contributions.

Meanwhile, over at the Pasadena, CA-based CALCAP, its use of third-party brokers to make loans is just getting underway.

Arch Capital will issue its quarterly earnings this Wednesday, April 26. It will mark the first earnings release following the Arch Mortgage Insurance purchase of competitor United Guaranty…

Although most of the major non-agency segments posted solid increases, the scratch-and-dent market was the star of the show.

A total of $13.38 billion of non-agency MBS was issued during the first quarter of 2017, a sharp 67.1 percent jump from the final quarter of last year, a new Inside MBS & ABS analysis and ranking reveals. Although most of the major segments posted solid increases, the scratch-and-dent market was the star of the show. The $8.09 billion of these deals issued in the first three months of the new year represented 60.5 percent of total production and it more than doubled the fourth-quarter total. The top two issuers of non-agency MBS – Chimera Investment and Cerberus Capital – earned...[Includes three data tables]

The pending issuance will largely be backed by purchase mortgages...

Ocwen added: “The substantive allegations in today’s suit are inaccurate and unfounded.”