Lawsky didn't name names, but the servicer he singled-out shares a number of characteristics with Ocwen Financial.

Non-cash financing was used on 72.4 percent of home purchases in November, based on a three-month moving average.

On the supply side, there were $5.63 trillion of single-family MBS guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae outstanding at the end of September.

A year ago, in SEC filings, Pershing Square disclosed that it owned just under 10 percent of Fannie and Freddie common.

Loan Care Servicing, an affiliate of Black Knight Financial, subserviced $110.0 billion at Sept. 30, up 47.4 percent from a year ago.

The Merrill borrowers tend to have strong equity positions: the original average combined LTV on the collateral is 54.9 percent.

Scavone was hired by the company in January of 2014.

Meanwhile, the FOMC indicated it will continue to reinvest principal payments from its holdings of agency debt and MBS.

Lenders funded an estimated $20 billion of new home-equity lines of credit during the third quarter, a 17.6 percent gain from 2Q, according to IMF.

A mid-sized nonbank based in Texas saw two of its top officers resign last week, industry sources confirmed to IMFnews.