Stearns Lending, one of the fastest growing servicers in the U.S., has hired a new manager to help it with servicing acquisitions.

Although Flagstar earned money on its mortgage business in the first quarter, its gain-on-sale margin took a major hit.

Vericrest Financial is said to be the winning bidder on a $16 billion package of mortgage servicing rights. However, the company would not comment.

Obtaining approvals to become a GSE seller/servicer can cost you, but think of the money you can make from owning servicing rights.

The Basel III accords may never happen, but if they do, some large servicers will have to reduce their MSR footprint.

Just how healthy is the residential mortgage business these days? Answer: Fannie Mae and Freddie Mac are swamped with seller/servicer applications.

It appears that Home Loan Servicing Solutions, a buyer of residential servicing rights, is making money hand-over-fist.

The Federal Housing Administration recently auctioned off $2.2 billion of nonperforming mortgages, getting about 45 cents on the dollar.

It appears that Fannie Mae is dialing back on its plan to sell nonperforming residential loans.

Four non-management directors at Nationstar Mortgage earned almost $1.5 million last year. Meanwhile, it appears Flagstar is selling some of its MSRs.