Its Share Pricing Sinking, Ocwen Issues Update, Says it Will Enter TPO Market, Acquire Servicing Rights December 6, 2018 Paul Muolo Ocwen, which paid $360 million in cash for PHH, also disclosed: “The purchase price we negotiated contemplated PHH could continue to incur losses.”Read More
Subservicing Sector Continues to Grow at a Steady Clip as States Act as ‘Mini-CFPBs’ December 6, 2018 Subservicing vendors ended the third quarter of 2018 with $2.33 trillion of contracts on their books, up 4.5 percent from June and 12.0 percent higher than a year ago, according to a new Inside Mortgage Finance ranking. [Includes one data chart.]Read More
Short Takes: Stock Market Ugly / Bring on the Cash-out Refis? / GSE Stocks Can’t Catch a Break / Carrington Readies First Non-QM MBS / New Penn Unveils New Name: NewRez December 6, 2018 Brandon Ivey and Paul Muolo Carrington Mortgage is working on its first non-QM securitization...Read More
The Mortgage M&A Tsunami May be Late This Time Around December 5, 2018 Paul Muolo In past downturns, large lenders and servicers were either sold outright or they joined forces with like-sized companies…Read More
Jumbo Servicing Portfolios Largely Increasing December 5, 2018 Brandon Ivey Shellpoint Mortgage Servicing had the highest sequential growth rate among jumbo servicers…Read More
HFSC Hearing on GSE Bill Postponed. Time is Running out for Chairman Hensarling… December 5, 2018 Paul Muolo Some industry lobbyists believe the Senate Banking Committee hearing on GSE pilot programs will not be held this year at all. Read More
Short Takes: What’s in a Name? Answer: $300 Million / Come On, Mick! We Thought You Were Pro-Business! / $300 Million? At Least Software Firms Will Make Out / Home Flips Headed for a Fall? / Who’s Doing Your Underwriting? / Law Firm Overcharges Fannie and December 5, 2018 Paul Muolo and Yemeng Yang Mulvaney has a reputation of being pro-business. Is it possible he might turn the name-change ship around to save American companies $300 million?Read More
Senate Dem Report Accuses Mulvaney of Cherry Picking the Law to Promote an ‘Ideological Agenda’ December 4, 2018 Yemeng Yang The report says that while running the agency, Mulvaney has “cherry-picked the law to promote his ideological agenda.”Read More
Short Takes: Nomura and Ditech? / Ocwen Sets a New Low / Fannie, Freddie and NPL Sales / Citadel’s Growth in Nonprime Servicing / A New Hire for Mortgage Network December 4, 2018 Brandon Ivey and Paul Muolo Fannie Mae and Freddie Mac continue to sell NPLs but for how long?Read More
Short Takes: The Hearing That Keeps Getting Postponed: GSE Pilot Programs / Remembering the Financial Accomplishments of President George H.W. Bush / Too Many Servicing Workers? / Mortgage Layoffs at SoFi / Vantage Score Hires Former Fannie Executive December 3, 2018 Paul Muolo Under the watch of President George H.W. Bush, S&Ls were re-regulated and given a core housing mission. Read More
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