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Ocwen Sets Aside $100 Million for Potential Settlement with the NYDFS

October 30, 2014
Paul Muolo
The share price of Ocwen Financial recently fell to a 52-week low of $18.47, a 70 percent decline that has wiped out at least $5 billion in market equity.
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SIGTARP: Complaints About HAMP MSR Transfers ‘Escalating’

October 29, 2014
Brandon Ivey
The SIGTARP said that since the beginning of 2013 it has received complaints from “nearly 100” borrowers regarding issues with servicing transfers, and that 84 of the calls came in 2014.
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Pacific Union Financial Consolidates Wholesale Units, Some Layoffs Ensue

October 29, 2014
Paul Muolo
Roughly a month ago, ClearVision founder Jon Maddox announced his retirement to Pacific Union senior management.
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Guild Mortgage Isn’t Done Buying Other Lenders

October 29, 2014
Paul Muolo
Guild's McGarry also said the company will not be closing on any more transactions in 2014.
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Short Takes: Redwood’s New Jumbo MBS Has Eight Non-QMs / MB Launches Sports Firm, Reveals Mortgage Earnings / Ellie Mae is Worth What? / FHFA Has a New Watchdog, Finally / Distressed RE Fund Raises a Bundle

October 29, 2014
Paul Muolo, Brandon Ivey, and Charles Wisniowski
Pacific Union Financial took in $100 million of profits. It’s not every day that a privately held nonbank tells the world what it’s earning…
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Moody’s to Non-QM Lenders: Find Rookie Borrowers With Potentially Lucrative Careers

October 29, 2014
Brandon Ivey
Young doctors just out of medical school can be good non-QM credit risks. Of course, there's all that student loan debt to consider...
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Fannie Mae Turning Into a Multifamily MBS Monster: Deals Doubled in 3Q

October 29, 2014
Charles Wisniowski
Former FHFA Acting Director Edward DeMarco wanted to shrink the multifamily programs of Fannie and Freddie, but that initiative has been placed on the back burner.
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Warehouse Lenders See an Increase in Outstandings; Credit for Non-QM Loans?

October 28, 2014
Paul Muolo
Another positive for the production market is a new willingness on the part of certain warehouse banks to finance the production of non-QM loans.
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Short Takes: Lower Rates Affecting M&A? / Gain-on-Sale Not So Bad / FHA May Penalize Lenders on Re-certifications / JPM and Non-QMs? / Nonbanks Love Ginnie, but is the Feeling Mutual?

October 28, 2014
Paul Muolo and George Brooks
Is the investment banking arm of JPMorgan Chase sniffing around the non-QM space? It sounds crazy, we know...
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What’s Going On? Consumers Are Complaining a Lot Less About Mortgages

October 28, 2014
Thomas Ressler
Total mortgage complaints have been trending downward since they peaked at 15,239 in the first quarter of 2013.
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