Outsourcing

As mortgage brokers gain more leverage in the market, concerns about borrower poaching and retention are making channel conflict with lenders more prevalent.

Wary of concentration risk, secondary market participants are backing initiatives to give more players a piece of the action.

PHH Corp.'s net loss grew in the third quarter as the company took a hit from the costs of its transformation to being a subservicer and portfolio retention originator.

PHH Corp. lost $46 million in the second quarter as it continues efforts to exit mortgage origination and servicing and instead focus on subservicing.

Former EverBank Chairman and CEO Rob Clements now has those same positions at LenderLive Holdings, a Denver-based provider of outsourced mortgage services.

Nationstar Mortgage has returned its overseas call center operations to the U.S., a move that will add 500 jobs at the company.

Managing portfolios for an influx of servicing rights investors helps mortgage companies augment revenue and keep rising costs and compliance risks in check.

New entrants in mortgage servicing are rethinking how business is done, creating more division between holders of mortgage servicing rights and the entities that actually manage loans.

The onslaught of regulatory actions against Ocwen may open the door for Nationstar to pick up a massive subservicing portfolio from the beleaguered servicer.

Citi has named David Chubak as head of global retail banking and mortgage for the global consumer bank, replacing Jonathan Larsen, who resigned late last year.