The handbook is designed to support FHA’s broader goals of expanding access to mortgage credit and making it easier for stakeholders to do business with the agency.
To some, the MSR transfer prohibition slapped on Flagstar is similar to the one New York regulators placed on Ocwen Financial regarding the Wells Fargo deal.
Fitch does not single out any servicers by name, but it’s common knowledge that both Ocwen Financial and Nationstar Mortgage have thousands of servicing-related workers housed in India...
One active NPL bidder has been Lone Star Funds, but sources tell IMFnews the hedge fund has been having a “brain drain” of sorts when it comes to talent.