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Ocwen Shareholder: Investors Have Been ‘Smoked,’ Will OCN Be Forced to Sell MSRs?

October 23, 2014
Paul Muolo
One servicing analyst told IMFnews that if Ocwen continues to get downgraded on its servicer ratings it could be forced to sell MSRs and/or post additional capital.
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Short Takes: A ‘Troubling’ Corporate Culture at Ocwen? / IMA Launches Crowd-Funding Unit / Massachusetts Loses Foreclosure Battle with GSEs / Reverse Stock Split for Mortgage REIT

October 23, 2014
Paul Muolo and Charles Wisniowski
Interactive Mortgage Advisors has launched RealPartner.com, a crowd funding platform giving accredited investors access to performing residential mortgages...
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First Republic, Chase Team Up on Unique New Jumbo MBS

October 22, 2014
Brandon Ivey
The new jumbo security from JPMorgan Chase is scheduled to be issued on Oct. 30.
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Flagstar Boosts Originations by 21 Percent, but CFPB Settlement Hammers 3Q Results

October 22, 2014
Paul Muolo
However, there was some good news. Flagstar reported residential originations of $7.19 billion, a 21 percent gain from 2Q.
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GSE Shareholders Look to Iowa Federal Court to Vacate DC Judge’s Dismissal

October 22, 2014
Charles Wisniowski
An investor in GSE stock, Continental’s counsel in the case is Cooper & Kirk, the same law firm that represents Fairholme, a large hedge fund that bought up GSE stock last year.
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Short Takes: Who Might Guaranteed Rate Buy? / RPM Eyes Two More Lenders / A Non-QM IPO Already? Really? / Fitch Upgrades Shellpoint on Servicing / New Appraisal Tool From Fannie Mae / More Trouble for Nonbanks and MSRs?

October 22, 2014
Paul Muolo, Brandon Ivey, and Charles Wisniowski
We even heard one report that a non-QM firm is contemplating an initial public offering. It sounds crazy, we know…Meanwhile, it appears the states want a say in MSR transfers...
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Wells’ Sale of $39 Billion in MSRs to Ocwen Imperiled; A $14 Stock?

October 22, 2014
Paul Muolo
Ocwen said it has fixed the "back-dating" problem but it may be too late for the company.
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Short Takes: MBA Shows the Love for FHFA’s Mel Watt / Looser Mortgage Credit? Are You Crazy? / The CFPB ‘ePilot’ Moves Closer / The Fear of Running Out of Money / Are You Afraid of Ghosts?

October 21, 2014
Paul Muolo and Thomas Ressler
After all, didn’t America suffer a housing “depression” because credit was too loose? Some GOP conservatives in Congress live by the edict: those who can own; those who can’t rent…
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Ocwen’s Stock Plunges After NYS Levies More Allegations Against the Firm

October 21, 2014
Paul Muolo
At press time, the firm’s share price was getting crushed, down 25 percent on the day to a new 52-week low of $19.89.
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Phoenix Capital and IMA Unveil New MSR Auctions

October 20, 2014
Paul Muolo
Servicing brokers expect a land rush of servicing deals before yearend.
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