We understand from one very good source that a top 30-ranked lender has been quietly trimming staff of late….

New Residential will pay roughly $18.25 a share for HLSS, valuing the deal at $1.3 billion.

The sale and transfer must first be approved by Freddie and its regulator, the Federal Housing Finance Agency.

Ocwen, which is in the process of liquidating its massive agency MSR holdings, is a subservicer to HLSS.

In case you’re wondering, Ocwen services roughly $208 billion of non-agency product.

AAMC said that while at BofA, Ellison was “the executive leading the team that managed the valuation and disposition of Bank of America’s legacy mortgage loan portfolio.”

When it comes to capital cushions, 2018 is "Year Zero" for Fannie Mae and Freddie Mac.

In 2018, the GSE capital buffer falls to zero dollars. Zilch. Nada. Hopefully by then, President Bush or President Clinton will have worked out a GSE reform deal with Congress…

Freddie reported a $2.7 billion net worth at Dec. 31 and will pay Treasury a $900 million dividend based on fourth quarter results.