Fitch notes that New Residential Investment Corp., a publicly traded REIT, owns $118.7 billion in servicing rights that are being subserviced by Ocwen.

A Fannie spokesman stressed that this effort in no way represents the GSE getting into the student loan business…

The company adds: “Under these circumstances, Ocwen has a responsibility to its customers, shareholders, and employees to vigorously defend the company.”

The MSR portfolio that MIAC is selling has an average FICO score of 672…

Meanwhile, over at the Pasadena, CA-based CALCAP, its use of third-party brokers to make loans is just getting underway.

Investors Unite: “We’re encouraged to see that MBA has changed its position on both of these issues and we also note that in their [sic] paper, MBA acknowledges the role of the Federal Housing Finance Agency … in stabilizing the companies during the conservatorship.”

Arch Capital will issue its quarterly earnings this Wednesday, April 26. It will mark the first earnings release following the Arch Mortgage Insurance purchase of competitor United Guaranty…

Ocwen added: “The substantive allegations in today’s suit are inaccurate and unfounded.”

The seller of the Alt A servicing portfolio was not identified by name, but IMA described the firm as a “well-capitalized and long standing bank…”

And now the obvious questions becomes: where does Ocwen go from here? The company can’t possibly be sold because of all the outstanding lawsuits and “legacy” problems...