It’s no secret that pricing on lender-paid mortgage insurance policies has come down over the past several months and now it appears the Consumer Financial Protection Bureau may take a look at what’s going on behind the curtain. According to industry officials who claim to have knowledge of the situation, the powerful consumer regulator may focus on whether there is some kind of quid pro quo going on between lenders and mortgage insurers. In particular, the agency may look...
Since late February, Ocwen Financial has struck four different deals to sell $89.4 billion in Fannie Mae/Freddie Mac servicing rights. Although buyer interest in the high-quality receivables was strong, getting those transactions past the Federal Housing Finance Agency has been a different matter. Industry advisors note that in general Fannie and Freddie promise their seller/servicers they will approve MSR transfers within 60 days unless there’s a problem. Last summer, the approval time was increased from 30 days, a change that did not receive much publicity. The FHFA, on the other hand, offers...
In a recent 10-K filing Ocwen disclosed that on April 30, 2015 it announced agreements with the GSEs to sell portfolios of non-performing loan servicing rights.
Watt said GSE pay should be brought more in line with comparable private sector jobs, but no higher than what CEOs in the 25th percentile of the market make, which is roughly $7.26 million a year.
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