Ocwen Financial has a huge mismatch between the size of its $400 billion servicing portfolio and its new originations. Then again, its MSRs are running off...
While originations of loans that don’t meet standards for qualified mortgages can subject lenders to increased liability, underwriting and compensating factors can help limit risks from non-QMs, according to Moody’s Investors Service. “Non-QM loans typically carry higher default risks than QM loans, but lenders can mitigate those risks by originating loans with attributes that compensate for the weaknesses that put the loans outside of the QM guidelines,” analysts at Moody’s said in a report published late last week. The rating service said...
2014 is going to go down as the worst year in new mortgage origination volume since the turn of the century, but it’s clearly not as bad as many have feared. Mortgage lenders produced an estimated $335 billion in new single-family loans during the third quarter, a solid 9.8 percent increase from the previous period, according to a new Inside MortgageFinance ranking and analysis. Significantly, the first and second quarters of this year were...[Includes two data charts]
Once word leaks out that a mortgage company is a takeover target, many LOs start weighing their options, contacting competitors who tried to recruit them in the past.
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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