Maybe a "reverse" merger might work for Stonegate Mortgage...

So, where did all the talk of a possible sale or spin-off come from? Answer: from activist investor Carl Icahn.

The sale is notable not only for its size, but for the fact that MBS and Morvest – partners on this auction – don’t normally sell servicing rights as part of their advisory practices.

The sale of mortgage servicing rights to Nationstar should transfer by Nov. 1.

“The flow market remains consistent with pricing, while the bulk market ebbs and flows with the 10-year and mortgage spreads,” said Tom Piercy of Interactive Mortgage Advisors.

The privately held Guild Mortgage, San Diego, said it funded $10.7 billion in home mortgages through the first nine months of 2015...

Over the past five quarters, Flagstar has unloaded $25.2 billion of residential servicing rights.

Phoenix Capital is out with a new “flow” servicing offering where the seller will deliver $40 million to $50 million per month in Fannie Mae and Freddie Mac product.

Firms looking to take over those branches from Stonegate include Skyline Home Loans and Prospect Mortgage...

Yet, here’s loanDepot, a firm launched just five years ago by industry veteran Anthony Hsieh, filing its S-1 statement with the Securities and Exchange Commission…