Ocwen’s subprime receivables were purchased in the secondary market from other firms trying to exit the space.

In an interview with IMFnews, Habib confirmed his resignation, but declined to say anything further about the company’s future.

In an earnings call this week, company founder and Executive Chairman Bill Erbey offered no further insight as to when the sale will be approved.

What does the seller of the MSRs think about what's going on with the DFS? A spokesman for the nation's largest lender and servicer told IMFnews: "Wells Fargo has not been a party to any discussions with the New York Department of Financial Services regarding Ocwen."

Fear and loathing when it comes to mortgage servicing sales? Maybe now, but not in 2013.

Of course, Ocwen is hardly alone when it comes to having a large overseas mortgage workforce. Wells Fargo and Nationstar, we’re told, also have decent sized back office operations in India…

Then again, acquirers also may find that companies that need to sell might have a hard time admitting as much. “I’m seeing a ton of interest on the buy-side these days,” said Larry Charbonneau, a principal in Charbonneau & Associates.

Among those buying into MI stocks is Paulson & Co., the legendary hedge fund that made $15 billion by shorting publicly traded subprime firms via the ABX Index in the run-up to the housing bust.

In an interview with IMFnews, Millon said CMC now owns roughly $5 billion in MSRs, compared to just $1.5 billion a year earlier. “We’re buying rights from the members of our cooperative,” Million said.

A spokesman for Ocwen said the company did not like the way the IMFnews story was being “interpreted.” After the story was published early Friday afternoon, Ocwen’s share price began to rise and continued to increase Monday.