The seller was not identified by Phoenix, but in the offering circular the firm is identified as “an independent mortgage banker established in 1990.”

“If something goes wrong, Ocwen will be on the hook,” said this source. “But it’s really clean stuff.”

The identity of the bank could not be confirmed at press time...

Pretium won pools one and two, which have a combined loan balance of $238.6 million.

A spokesman for Ocwen declined to comment on the “controlled liquidation” characterization and could offer no time table on when the lender/servicer might release its fourth quarter results.

Eventually, the seller may offer $500 million per month in GSE product or $6 billion per year.

Coupled with a recently announced Freddie Mac MSR sale to Nationstar ($9.8 billion), Ocwen estimated the sale of GSE receivables will generate $550 million in gross proceeds.

After seeing what’s transpired at Nationstar, Owen and Walter the pass year, would Dan Gilbert (who owns Quicken Loans) and Stan Middleman (Freedom’s owner) ever ponder going public?...

The fourth quarter was Nationstar’s worst production quarter of the year.

A veteran of Bank of America, GE Capital and other financial service firms, Williams said he hopes to unveil 10 Mile’s first investment in April.