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November 21, 2014

Wilbur Ross Quits Ocwen’s Board – for Vice Chairmanship at Bank of Cyprus

By Paul Muolo

Two years ago, Ross’ WL Ross & Co. sold its mortgage banking operation, Homeward Residential, to Ocwen for $750 million in cash and convertible preferred stock.

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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.


2 to 3 years. GSE reform is complicated.


Sadly it won’t happen in a Clinton or Trump first term.


Not in my lifetime.


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