PennyMac founder and Executive Chairman Stan Kurland: "While the correspondent market remains competitive, margins appear to be stabilizing as they were essentially unchanged from the prior quarter at 29 basis points..."

Just think what a 100 basis point cut in interest rates would do to the mortgage market...

Wells Fargo continues to dominate the servicing arena with a market share of 13.5%, almost double its closest competitor...

A search of SEC records shows that Ocwen is not Martini’s first mortgage-related investment. In the past week, he’s owned a stake in Ditech Financial.

“One of the things we’re very focused on and I’ve been pretty vocal about is doing term financing on as much of our business as we possibly can,” Michael Nierenberg, New Residential’s chairman, president and CEO.

Officials at Mr. Cooper said the loss was primarily driven by a negative $293 million net fair value mark on mortgage servicing rights.

New Residential acquired MSRs with a total unpaid principal balance of $49 billion in the first four months of 2019.