As part of the transaction, company founder and president Steven Horne will step down as president and chief executive officer, but will remain as a senior advisor.

Note to Ocwen management: every US employee is a potential mortgage customer. Think about it.

Guild intends to buy even more mortgage companies. Is an IPO next?

One servicing analyst told IMFnews that if Ocwen continues to get downgraded on its servicer ratings it could be forced to sell MSRs and/or post additional capital.

Interactive Mortgage Advisors has launched RealPartner.com, a crowd funding platform giving accredited investors access to performing residential mortgages...

However, there was some good news. Flagstar reported residential originations of $7.19 billion, a 21 percent gain from 2Q.

One former CEO candidate told IMFnews that back when he was approached about the job, the starting salary for the position was at least $400,000.

We even heard one report that a non-QM firm is contemplating an initial public offering. It sounds crazy, we know…Meanwhile, it appears the states want a say in MSR transfers...

Ocwen said it has fixed the "back-dating" problem but it may be too late for the company.

One mortgage executive added: “Watt is trying to do the right thing, but I’m not sure he will get there. It’s good to see the government admit that the pendulum went too far.”