Did the FHFA late last summer/early fall raise concerns regarding a certain nonbank servicer’s capital in regard to a huge portfolio of mortgage servicing rights that it had bought earlier in the year from a megabank?

“A few groups have taken a walk through the offices in Cherry Hill,” said a source close to PHH. “People are starting to notice – and leave.”

Since late last year, the FHFA has decreed that it must approve any GSE servicing sale of 25,000 loans or more, which translates into roughly $5 billion of product.

Will the Ocwen-Wells MSR deal ever get approved? In time, but...

New York regulators want to know whether the additional costs will be passed onto consumers. Ellie Mae is not commenting.

Why doesn’t the MBA, NAHB and National Association of Realtors just come out and say what they really mean, which is this: Leave Fannie and Freddie alone, return them to their shareholders and they’ll never buy another ALT A or subprime mortgage again.

“Not only will FHA continue to go after the big banks, but they’re going after the mid-sized banks as well,” said Andrew Henscel, whose firm defends originators.

Mortgage banking is an ugly business right now, but lenders are hoping that the first quarter will prove to be the nadir and that better times are ahead.

Meanwhile, Ocwen’s board recently increased the maximum bonus amount for senior level executives to $3 million per year from $2 million.

Ocwen's stock has been floundering of late, but its payroll is headed north on a rocket.