According to the website ShortSqueeze.com, almost 30.2 million shares of Ocwen are presently being shorted by speculators or 46.48 percent of the float...
According to exclusive figures compiled by Inside Nonconforming Markets, roughly $320.0 billion in subprime mortgages were outstanding at March 31, 2015.
“This should be terrific for our company,” said Michael Nierenberg, New Residential’s president and CEO, during a recent conference call with investors. “We expect sustainable earnings as a result of our long-term deal pipeline.”
Existence of the probe was mentioned in the same paragraph about the NY SEC investigating Ocwen’s business dealings with affiliate companies such as Altisource...
Several hard money lenders are involved in financing flippers, charging interest rates that are several percentage points above the going Fannie Mae/Freddie Mac rate.
The CFPB sued Ohio-based Nationwide Biweekly Administration, Loan Payment Administration, and their owner, Daniel Lipsky, in federal district court last week, accusing them of misrepresenting the interest savings consumers will achieve through a biweekly mortgage payment program called the “Interest Minimizer” and misleading consumers about the cost of the program. Under the program, consumers who enroll send Nationwide half their monthly mortgage payment every two weeks, effectively making one additional monthly payment per year. According to the bureau, Nationwide charges consumers a setup fee of up to $995 to enroll in the program and charges consumers between $84 and $101 in payment processing fees each year they remain enrolled. According to the bureau’s complaint, the defendants made misrepresentations about the ...
The CFPB this week launched a public inquiry into student loan servicing practices that create repayment challenges, hurdles for distressed borrowers and economic incentives that may affect the quality of service. “As a growing share of student loan borrowers reach out to their servicers for help, the problems they encounter bear an uncanny resemblance to the situation where struggling homeowners reached out to their mortgage servicers before, during and after the financial crisis,” CFPB Director Richard Cordray said during a field hearing in Milwaukee on Thursday. “Having seen the improper and unnecessary foreclosures experienced by many homeowners, the CFPB is concerned that inadequate servicing is also contributing to America’s growing student loan default problem.” Currently, about 8 million Americans are...
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