When you hold an earnings call and not one analyst shows up to ask a question, one of two things is going on: business is so good that no one needs to ask, or research firms have dropped your stock. The latter appears to be the case with Altisource Asset Management Corp., one of three publicly-traded companies that can trace its lineage to Ocwen Financial Corp., a once top-five ranked servicer that’s in the process of shrinking, deleveraging its balance sheet and trying to figure out ...
Servicers’ use of property-management contractors has helped save costs and increase efficiencies but also opened servicers to liability, according to an analysis of litigation involving contractors. Christopher Odinet, an assistant professor of law at the Southern University Law Center, noted that servicers’ reliance on property-management firms increased in recent years due to long timelines for delinquencies and foreclosures. Servicers hire the firms to inspect ...
Selling mortgage servicing rights into a declining interest rate environment can be tough sledding, but now that rates have headed north again, advisors that play in the space are anticipating strong sales through the fourth quarter and into the early months of 2016. “In the third quarter, we saw a number of large deals and even a handful of $500 million deals that just didn’t get done,” said Stephen Harris, managing director of MIAC Capital Markets. Harris also pointed out a ...
Donatacci helped steer Clayton from survival mode during the financial crisis to solid profitability before the due diligence vendor was sold to Radian Group for $305 million in 2014.
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