Mortgage professionals overwhelmingly believe the Dodd-Frank Act should be revised, removing barriers to innovation and to reduce the cost of manufacturing a mortgage.
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.
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.
Although Ocwen is out of compliance with the NYSE, it continues to sell mortgage servicing rights. Late Monday it disclosed a $25 billion MSR sale to Nationstar.