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April 17, 2014

NY DFS Probe of Nonbank Servicers Has Frozen Servicing Sales

By Brandon Ivey

The investigation by the New York Department of Financial Services of nonbank servicers including Nationstar Mortgage and Ocwen Financial has put a halt to servicing sales.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

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