HomeStreet restructured its mortgage business last year…

Much of the product is projected to come from California, Florida and Texas.

As of the end of March, Capital One handled a $25.78 billion servicing portfolio, making the firm the 49th largest servicer, according to Inside Mortgage Finance.

PHH CEO Robert Crowl: "Our team is fully committed to executing our business plans and meeting the closing requirements for our merger with Ocwen."

Fortress also controls roughly 500,000 shares of New Residential's common stock and holds options on 18.1 million shares.

The seller of the portfolio will provide full representations and warranties.

It appears the mortgage real estate investment trust sector – a somewhat stable universe the past few years – might be ready for a major rollup, courtesy of margin compression and tighter margins.

The average loan size is $285,547 with the average LTV coming in at 70.0 percent.

Roughly two years ago, Annaly bought Hatteras Financial, Winston-Salem, NC, in a deal valued at $1.5 billion.

Redwood Trust announced this week that it purchased a stake in 5 Arches, an originator and asset manager of business-purpose residential mortgages. Redwood will continue aggregating jumbo and other non-agency mortgages, but officials at the real estate investment trust also see promise in loans for single-family rental properties and fix-and-flip financing.