David Schneider, CEO of Vericrest Financial, a fast growing servicer that is rumored to be a bidder on Ally Financial’s $122 billion of mortgage servicing rights, has left the company, sources familiar with the situation told Inside Mortgage Finance. Schneider could not be reached for comment at deadline. A spokeswoman for the company would not comment on the situation but would not deny his departure either. Schneider has been building bridges in the servicing community…

The Federal Housing Finance Agency is concerned about large scale transfers of mortgage servicing rights.

Nationstar sets a target goal of amassing $500 billion of mortgage servicing rights.

Residential mortgages sourced through the correspondent channel and sold to Fannie Mae and Freddie Mac increased by 26 percent in 2012 compared to the year before.

Morgan Stanley recently increased its ownership stake in Fortress which in turn controls a large block of Nationstar stock.

Nationstar Mortgage has agreed to buy the settlement services unit of Equifax.

First Guaranty is experiencing strong growth in its servicing business. Meanwhile, lenders worry about higher net worth requirements from the GSEs.

Standard & Poor's, which had a huge ratings market share tied to subprime MBS, was sued by the government for negligence.

City National Bank of Los Angeles is entering the mortgage warehouse business.

Ally Bank will originate and keep jumbo mortgages in the bank's portfolio.