Volume 2014 - Number 8
February 27, 2014
Mortgage Servicing Transfers to Nonbanks Continue To Get Regulatory Attention; Ocwen in the Spotlight
Mortgage industry investors and analysts are getting nervous about all the regulatory scrutiny being placed on servicing transfers and the rise of fast-growing nonbanks that have quickly amassed a large market share position. One analyst who tracks the market closely told Inside Mortgage Finance that some of these nonbank servicers are starting to "lawyer up" because of New York state's recent decision to block, at least temporarily, the sale of $39 billion in non-agency mortgage servicing rights by Wells Fargo to Ocwen Financial. Initially, servicing executives and their advisors believed...
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