The publicly traded Impac is based in Irvine, CA. Its share price is currently at $7.34, more than double what it was in June. Donatacci will split his time between California and New York.

The press-shy Cenlar – which has a thrift charter – continued to dominate the subservicing rankings with a market share of 21.3%...

The spokesperson added: “It should be noted that in the recently announced housing finance reform plan, Treasury recommends that volume-based pricing discounts or similar incentives should be prohibited at the enterprises.”

Eli Global (Global Growth) owner Greg Lindberg entered a not guilty plea in the case and just last week filed a motion to dismiss.

Back in 2011, large bank servicers – including Wells Fargo, JPMorgan and Bank of America – controlled roughly 94% of the mortgage servicing market, a fact cited in a new report from the Conference of State Bank Supervisors. Today, just four commercial banks rank among the top 10 servicers.

The CSBS report: “Thin liquidity margins, especially when coupled with the other risks identified above, can put a nonbank in a sudden compromised position triggered by a reduction in revenues or other market or economic events such as volatile interest rates that can have significant impact on the value of MSRs.”

Flagstar estimates it will recover about $1 million of the cost in the third quarter while it continues to pursue other legal remedies tied to Live Well...