Roughly $12.50 billion of agency mortgages securitized during the first quarter with some form of primary MI were tied to Golden State properties.

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

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

Such loan terms as “temporary financing” and “automated underwriting system” would be clarified…

Nonbank mortgage firms increased their servicing portfolios by 3.0 percent during 1Q17, more than double the 1.3 percent increase in total Fannie/Freddie servicing during that period.

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

A Fannie spokesman stressed that this effort in no way represents the GSE getting into the student loan business…

Flagstar sold $8.0 billion of residential servicing rights during the first quarter compared to $6.7 billion in the fourth quarter.

The ICBA believes the GSE risk-sharing securities are illiquid and would likely “dry up” in times of market stress.

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…