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Volume 2014 - Number 3

January 31, 2014

News Briefs

Ocwen Financial agreed to purchase the servicing rights on $39.2 billion of mortgages from Wells Fargo. The mortgages included in the deal are largely in non-agency mortgage-backed securities. Ocwen will pay $2.7 billion. The Obama administration renewed calls for Congress to approve legislation that would establish a refinance program for non-agency borrowers. The administration has been pushing for a non-agency refi program since at least early 2012 but Republicans in Congress ... [Includes three briefs]

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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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