Its Share Pricing Sinking, Ocwen Issues Update, Says it Will Enter TPO Market, Acquire Servicing Rights December 6, 2018 Paul Muolo Ocwen, which paid $360 million in cash for PHH, also disclosed: “The purchase price we negotiated contemplated PHH could continue to incur losses.”Read More
Purchase-Loan Market Began Softening in 3Q but Experts Anticipate a Rebound December 6, 2018 John Bancroft Purchase loans accounted for over 80.0 percent of third-quarter production at Wells Fargo, PennyMac Financial, Caliber Home Loans, U.S. Bank and Amerihome…Read More
Kathy Kraninger is About to Head the CFPB, but Who is She? December 6, 2018 Yemeng Yang Observers note that CFPB nominee Kraninger has no track record in financial services…Read More
Short Takes: What’s in a Name? Answer: $300 Million / Come On, Mick! We Thought You Were Pro-Business! / $300 Million? At Least Software Firms Will Make Out / Home Flips Headed for a Fall? / Who’s Doing Your Underwriting? / Law Firm Overcharges Fannie and December 5, 2018 Paul Muolo and Yemeng Yang Mulvaney has a reputation of being pro-business. Is it possible he might turn the name-change ship around to save American companies $300 million?Read More
HFSC Hearing on GSE Bill Postponed. Time is Running out for Chairman Hensarling… December 5, 2018 Paul Muolo Some industry lobbyists believe the Senate Banking Committee hearing on GSE pilot programs will not be held this year at all. Read More
Jumbo Servicing Portfolios Largely Increasing December 5, 2018 Brandon Ivey Shellpoint Mortgage Servicing had the highest sequential growth rate among jumbo servicers…Read More
Cerberus Affiliate Packages Seasoned Second Liens in Non-Agency MBS, a First for Post-Crisis Issuance December 5, 2018 Brandon Ivey Towd Point Mortgage Trust 2018-SJ1 is the first post-crisis non-agency MBS backed by second liens to receive a credit rating.Read More
The Mortgage M&A Tsunami May be Late This Time Around December 5, 2018 Paul Muolo In past downturns, large lenders and servicers were either sold outright or they joined forces with like-sized companies…Read More
Short Takes: Nomura and Ditech? / Ocwen Sets a New Low / Fannie, Freddie and NPL Sales / Citadel’s Growth in Nonprime Servicing / A New Hire for Mortgage Network December 4, 2018 Paul Muolo and Brandon Ivey Fannie Mae and Freddie Mac continue to sell NPLs but for how long?Read More
Senate Dem Report Accuses Mulvaney of Cherry Picking the Law to Promote an ‘Ideological Agenda’ December 4, 2018 Yemeng Yang The report says that while running the agency, Mulvaney has “cherry-picked the law to promote his ideological agenda.”Read More
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