Hedge Funds Dump Nonbank Mortgage Shares, But Some Investors Hang in, Buying Back Stock
March 10, 2016
The past year has been an ugly one for institutional investors that 24 months ago were gorging on certain publicly traded mortgage stocks, in particular Ocwen Financial and PHH Corp. A careful reading of 13-G/A statements recently filed with the Securities and Exchange Commission paints a portrait of hedge funds, private-equity firms and other “early in” buyers paring their positions in these companies, essentially giving up on them ever coming back. …