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Is the IBM-Owned Seterus About to Face the Music?

March 25, 2015
Paul Muolo
Getting information out of Seterus about its business is like trying to crack the Kremlin.
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Short Takes: Will SCOTUS Allow Underwater Seconds to be Dismissed? / And Now a Word from RoundPoint / GSE Conservatorships: Long, Strange Trip, Man / A GSE Bill Passing? Not Likely / More on Nationstar

March 25, 2015
Paul Muolo, Thomas Ressler, and Brandon Ivey
Although RoundPoint isn’t taking any questions regarding a possible sale of the company, it recently published a statement regarding its co-issuance and subservicing businesses.
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IG Report: FHFA Took 750 Conservatorship ‘Actions’ Against the GSEs in 2014

March 25, 2015
Paul Muolo
Fannie and Freddie don't get out of bed in the morning without first talking to the FHFA. (Then again, the two are in conservatorship.)
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It’s Time to Scale Back Dodd-Frank, Industry Says

March 25, 2015
Thomas Ressler
Mortgage professionals overwhelmingly believe the Dodd-Frank Act should be revised, removing barriers to innovation and to reduce the cost of manufacturing a mortgage.
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Agency MBS Does Its Part: Small but Steady Growth

March 25, 2015
John Bancroft
Fannie Mae is still the most prolific author of single-family MBS, accounting for 46.6 percent of agency MBS outstanding at Dec. 31.
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Nationstar Reveals More MSR Purchases, but Stock Gets Hit on News of Secondary Stock Offering

March 25, 2015
Brandon Ivey
How is Fortress feeling this morning? It owns 70 percent of Nationstar's common.
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Ocwen Dumping ‘Clean’ GSE Servicing Rights First; Then the Hard Part Comes

March 24, 2015
Paul Muolo
But now comes the hard part for Ocwen: Unloading Fannie Mae and Freddie Mac receivables that have delinquencies.
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Short Takes: Oh, That’s Why John Devaney Likes Ocwen / Freddie Mac Cranks Up NPL Sales / Freedom Mortgage Continues Hiring Spree / Tavistock and the Bear / Former CFPB Attorney Lands at Wilmer Cutler

March 24, 2015
Paul Muolo and Carisa Chappell
But when the letter first came to light one little fact was not readily known: that Devaney was also an Ocwen shareholder.
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Bank of America Sells GNMA Servicing Rights to Carrington. But How Much?

March 24, 2015
Paul Muolo
Sources note that earlier in the year, the privately held Carrington was the winning bidder on a roughly $20 billion package of Ginnie MSRs sold by BofA.
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Is Walter the Next Ocwen? Green Tree Hit With Servicing Downgrades

March 24, 2015
Brandon Ivey
Fitch said the downgrade was tied to Green Tree’s “aggressive portfolio growth,” noting that the nonbank grew its MSR portfolio by almost three-fold over the past two years.
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Latest Imf News

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