Outsourcing

ISGN Corp. has completed the sale of its business process outsourcing unit to Firstsource Group USA, a subsidiary of the Indian firm RP-Sanjiv Goenka Group.

PHH Corp. reported a first-quarter loss of $30 million, which included a $10 million pretax adjustment to the value of its mortgage servicing rights.

Nationstar Mortgage Holdings reported a $132.4 million loss for the first quarter of 2016, showcasing once more the toll falling interest rates have taken on companies across the mortgage industry.

During the mortgage crisis, servicers recruited people from the origination business to help with loan modifications. Now the two sides of the industry are coming together in a new way.

Mutual of Omaha Bank and an affiliate of PlainsCapital Bank in Dallas have partnered to sell residential mortgages.

PHH Corp. said its loan closing dollar volume will decrease this year, after Bank of America's Merrill Lynch announced plans to withdraw business from the firm.

MetaSource in Salt Lake City has acquired Titan Lenders Corp. to bolster its mortgage outsourcing and technology capabilities.

PHH Corp. reported a bigger loss in the fourth quarter, on costs to restructure its business and a loss on sales of mortgage servicing rights.

Amid growing scrutiny of how the hand-off of mortgages is managed after loan closings and bulk sales, servicers are working to automate the entire process to create a consistent and accurate onboarding experience for borrowers.

Blackstone portfolio company Incenter has agreed to purchase Interactive Mortgage Advisers.