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Volume 19 - Number 1

December 30, 2014

Ocwen Shifts Focus Post-Settlement

After agreeing to a $150 million settlement with the New York Department of Financial Services, Ocwen Financial said the company will shift its business strategy away from owning mortgage servicing rights for agency mortgages. In a call with investors in late December, Ronald Faris, Ocwen’s president and CEO, said the nonbank is positioned for “disciplined growth” in the future. “We continue to believe that we have attractive opportunities for earnings growth,” he said. In the past three years ...

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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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